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Article Source: The Washington PostShares of Human Genome Sciences soared Monday on news that the firm's experimental lupus drug showed promise in its latest round of testing.
The Rockville-based firm's stock quickly jumped past $10 and closed at $12.51, up $9.19, or 277 percent. Some analysts have predicted that the company's stock could pass $15 if the drug is approved.
The HGS drug, called Benlysta, must undergo one more major round of testing before the company makes a formal application to the Food and Drug Administration. The biotech firm has partnered with pharmaceutical giant GlaxoSmithKline to market the drug and split any profits.
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