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Feb. 21, 2018, 8:34 a.m. EST

AbbVie, Neurocrine shares rise after positive results for uterine fibroids drug

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By Emma Court

AbbVie Inc. /zigman2/quotes/202428675/composite ABBV -0.17% and Neurocrine Biosciences Inc. /zigman2/quotes/202459527/composite NBIX +0.64% shares rose 1.7% and 1.1% respectively in premarket trade Wednesday after the companies announced that their drug met its primary endpoint in a phase 3 trial testing it in women with uterine fibroids. The therapy, elagolix, combined with low-dose hormone therapy reduced heavy menstrual bleeding in 68.5% of women, compared with 8.7% of women on the placebo. The phase 3 trial, ELARIS UF-I, is the first of two late-stage studies, and the Wednesday release was based on topline results from a six-month primary analysis. Uterine fibroids affect an estimated 7.5 million U.S. women, and consist of growths in the uterus that can cause heavy bleeding, pain and bladder problems. Other companies are also developing drugs in this area, includingMyovant /zigman2/quotes/201447012/composite MYOV +0.57% , Allergan and the biotech ObsEva /zigman2/quotes/208216166/composite OBSV -0.34% . AbbVie and Neurocrine's elagolix is also being developed for endometriosis with associated pain, and is being reviewed by the Food and Drug Administration for that indication. AbbVie shares have surged 24.6% over the last three months, and Neurocrine shares have surged 14%, compared with a 4.5% rise in the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.84% .

/zigman2/quotes/202428675/composite
US : U.S.: NYSE
$ 89.63
-0.15 -0.17%
Volume: 5.60M
Sept. 17, 2020 4:03p
P/E Ratio
19.07
Dividend Yield
5.27%
Market Cap
$158.45 billion
Rev. per Employee
$1.09M
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/zigman2/quotes/202459527/composite
US : U.S.: Nasdaq
$ 101.87
+0.65 +0.64%
Volume: 755,059
Sept. 17, 2020 4:00p
P/E Ratio
48.38
Dividend Yield
N/A
Market Cap
$9.44 billion
Rev. per Employee
$771,350
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/zigman2/quotes/201447012/composite
US : U.S.: NYSE
$ 21.12
+0.12 +0.57%
Volume: 512,301
Sept. 17, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.89 billion
Rev. per Employee
N/A
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/zigman2/quotes/208216166/composite
US : U.S.: Nasdaq
$ 2.90
-0.01 -0.34%
Volume: 395,674
Sept. 17, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$162.72 million
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
3,357.01
-28.48 -0.84%
Volume: 2.74B
Sept. 17, 2020 5:14p
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