Drugmaker $Scholar Rock (SRRK.US)$'s shares were trading more than 33% higher just past 11:55 am ET Monday at $40.04.
The company's rival $Biohaven (BHVN.US)$ said on Monday its experimental treatment for a rare neuromuscular disorder failed to meet the main goal of improving patients' motor function in a late-stage trial.
Truist analysts raise their peak sales estimate on apitegromab, SRRK's drug for the same disorder, called spinal muscular atrophy, to $1.5 bln from $1.2 bln after Biohaven's announcement, reported Reuters.
SRRK shares surged over 360% on Oct. 7 after apitegromab met the main goal of a late-stage trial; shares have doubled YTD.
