NEW YORK (AFX) - DeCode Genetics Inc. said Thursday it applied for an investigational new drug application and hopes to start early-stage studies on its new heart attack prevention drug candidate.
The Iceland-based pharmaceutical company filed the application with the U.S. Food and Drug Administration. Pending clearance, it plans to start the Phase 1 clinical trial this summer.
Shares of Decode, which focuses on applying human genetics in developing drugs, saw shares rise 24 cents, or 4.2 percent, to close earlier at $4.95 on the Nasdaq.
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