Tomahawk, WI 2/26/2014 (Basicsmedia) Yesterday’s big move in InterMune Inc. (NASDAQ:ITMN) was a game changer, Click on below link to see how you should trade ITMN going forward.

Biotech industry has been on a roll in the recent past after successful drug trials by the various industry players. InterMune Inc. (NASDAQ:ITMN) joined the list of the highest gainers on Tuesday trading session after its stock moved up by highs of 170%, as a result of reporting successful trials for its drug Pirfenidone that can be used to treat fatal lung diseases.

Effects of InterMune successful trial

InterMune Inc. (NASDAQ:ITMN) shares soared by double digits to trade at  high margins of $37.80  which marked the shares biggest single day growth since the company’s initial public offering in May 2000. The drug has currently been approved in Europe and used to treat idiopathic pulmonary fibrosis, a lung disease that usually kills people between three to five years of diagnosis. The 170% gain was enough to lift the boats of one index and also made an exchange traded fund climb over new records.

 Results of the test

The drug Pirfenidone was compared with placebo and showed huge success after 52 weeks of trial. The results showed that only 16.5% of the patients who were using the drug showed progression of the disease compared to 31.8% of patients under placebo.

 A report by InterMune Inc. (NASDAQ:ITMN) indicate the pill met both primary and secondary endpoints with 10% decline in forced vital capacity FVC being considered meaningful. The result also showed that 22.7% of the patients under the pill during the trial did not experience any form of lung malfunction compared to Placebo 9.7%.

Previous approval submission by InterMune had not been successful with FDA authorities despite the pill being used in Europe and Canada. InterMune plans to resubmit pirfenidone for approval on the basis of the positive results from the trails and the fact that the pill is already in use in Europe and Canada.

InterMune Inc. (NASDAQ:ITMN) was one of the heavy climbers on Tuesday trading session closing the day at a high of $37.80 after an impressive 170.77% gain.

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