Shares in Global Blood Therapeutics more than double on market debut
Blood disorder drug developer Global Blood Therapeutics’ shares more than doubled Wednesday as the company became the latest biotechnology company to get a powerful response from investors in its stock market debut.
Global Blood Therapeutics Inc. says its treatment for sickle cell disease might stop red blood cells from becoming misshapen, treating the disease rather than its symptoms. The drug, GBT440, is in early clinical testing: as of July 31, it had been given to 30 healthy volunteers and six people with sickle cell disease. The company wants to begin at least one midstage trial of the drug in early 2016.