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TICKERS: DOVA

Dova Pharmaceuticals Shares Increase 35% Overnight with FDA Approval

Source:

The pharmaceutical stock enjoyed a large boost, thanks largely to FDA approval of its supplemental new drug application for DOPTELET for treatment of chronic immune thrombocytopenia.

Dova Pharmaceuticals Inc. (DOVA:NASDAQ) announced some good news in a press release on June 27, stating: "The U.S. Food and Drug Administration (FDA) approved a supplemental New Drug Application (sNDA) that expands the use of DOPTELET (avatrombopag) to include the treatment of thrombocytopenia in adults with chronic immune thrombocytopenia (ITP) who have had an insufficient response to a previous treatment."

The market responded to the news by driving the stock price 35% higher, opening at $14.26 the day after a $10.59 close.

Dr. David Zaccardelli, president and CEO of Dova, commented: "In addition to offering patients with ITP a new treatment option, we expect DOPTELET will also address an important unmet medical need in the market."

For the pharmaceutical company whose stated goal is "acquiring, developing and commercializing drug candidates for diseases where there is a high unmet medical need," the expanded FDA approval is a big win.

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