Global Blood Therapeutics Stock Surges 5% On Eligibility For European Priority Drug Program

Global Blood Therapeutics Inc. stock surged 5.5% in premarket trade Wednesday after the European Medicines Agency said its sickle cell disease drug is eligible for a priority drug program. The Priority Medicines (PRIME) program gives early support to develop medicines for an unmet medical need. Sickle cell disease is an inherited blood disorder that causes patients pain and can lead to organ damage and early death. Data from an ongoing early/mid-stage clinical trial of GBT440 support the possibility that the drug could improve patient symptoms and modify the disease, the company said. Global Blood Therapeutics shares have plummeted 29.2% over the last three months, compared with a 2.6% rise in the S&P 500 .