By Ben Glickman
Shares of Tiziana Life Sciences rose Friday after the company announced positive PET scan results in its study of a treatment for multiple sclerosis.
The stock was up 8.1%, to 80 cents, in midday trading. Shares are up 33% this year.
The New York-based biotechnology company said that it was studying the activated microglia levels in patients with non-active secondary-progressive multiple sclerosis who have been treated with intranasal foralumab.
The company observed reduced levels of activated microglia, which is believed to play an important role in the development of certain neurological diseases, in five out of six patients studied after six months.
Chief Executive Gabriele Cerrone said the results supported quickly moving to Phase 2a testing of foralumab.
The company said Phase 2 trial screening for non-active secondary-progressive multiple sclerosis would begin in November.
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