BioMarin Shares Jump On Dwarfism Drug Tests

Shares of BioMarin Pharmaceuticals leapt by more than 10% in early trading Thursday after the biotechnology company reported a 50% improvement in growth velocity for children being treated with an experimental treatment for human dwarfism. The company's drug, known as BMN-111, is considered an orphan drug. That means the drug could get fast-track approval by regulators and longer protection from competition if it gets the nod from the U.S. Food and Drug Administration. Shares were up $12.47 to $136.07 in recent action.