Shire's Stock Surges After ADHD Drug Trial Meets Key Endpoints

Shares of Shire PLC surged 3.5% in premarket trade Wednesday, after the drug maker said a trial of its treatment for attention-deficit/hyperactivity disorder (ADHD) met its primary efficacy and safety endpoints. The secondary endpoint of improvement in global functioning was also met. The company said it plans to use these study results as part of a resubmission for Food and Drug Administration approval in the second half of 2017. The stock has tumbled 17% year to date through Tuesday, while the SPDR Health Care Select Sector ETF has declined 3.2% and the S&P 500 has eased 0.4%.