Here's Why Reata Pharmaceuticals Skyrocketed Higher Today
Shares of Reata Pharmaceuticals (NASDAQ: RETA) are up 59% at 12:26 p.m. EDT, after the company released positive data for the midstage Moxie study of its drug candidate, omaveloxolone, in patients with a neuromuscular disease called Friedreich's ataxia.
As biotech investors have seen time and time again, positive clinical trial data can lead to monstrous one-day gains, especially if that data comes in a disease like Friedreich's ataxia where multiple failures over the years have led to low expectations.
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Source Fool.com


