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MyoKardia (NASDAQ: MYOK), a clinical-stage biotech, is having a tremendous Monday morning. The drugmaker's shares were up by an eye-popping 65% on sky-high volume as of 9:59 a.m. EDT on Monday.
The spark? Ahead of the opening bell, MyoKardia announced that its experimental obstructive hypertrophic cardiomyopathy drug mavacamten met all of its primary and secondary endpoints in a late-stage trial. Equally as important, mavacamten was also reportedly well tolerated in the study.