Intermune (ITMN) rises 35% - theStockMasters

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Intermune (ITMN) rises 35%
Feb 03, 2009 06:09 PM UTC

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Via The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Market commentary for the Savvy Investor:

Shares of Biotechnology company InterMune Inc (nasdaq: ITMN) are up 35% after announcing a late-stage study of its investigational treatment for a potentially fatal lung disease met the main goal, even as another late-stage trial of the same drug failed.

Investors were extremely pessimistic about the outcome of the study given that no drug succeeded in the disease before, Canaccord Adams analyst Adam Cutler said by phone.

People now think that there is a chance of the drug getting approved, when many assumed it did not have much chance before today.

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