FDA Reaffirms ViroPharma Investors with Cinryze Approval

Shares of ViroPharma (NASDAQ:VPHM) are trading higher today after the company announced early this afternoon that the FDA approved its hereditary angioedema treatment Cinryze for large scale manufacturing. The company has been waiting for approval since receiving a complete response letter earlier this year and subsequently refiling a Biologics License Application. The drug was caught in last week’s whirlwind of controversy surrounding Halozyme’s (NASDAQ:HALO) HyQ FDA rejection. The two drugs were being studied in clinical trials as a combination therapy, which the FDA halted; ViroPharma has since begun clinical trials for Cinryze as a monotherapy. VPHM is up 14% today on the news, which is a welcome reprieve for investors who saw shares dip to $20.00 from $23.50 in the last few weeks. The company also plans to announce second quarter results on August 9 before the market opens.