What's Making News At Vitae Pharma?

(RTTNews) - Shares of Vitae Pharmaceuticals Inc. (VTAE) are up over 58% in extended trading on Wednesday, following positive top-line results from the company's 4-week phase 2a proof-of-concept clinical trial of VTP-43742 in psoriatic patients.

According to the trial results, VTP-43742 demonstrated a clear signal of efficacy, with patients in the 350 mg dose group achieving a 24% reduction in the Psoriasis Area Severity Index (PASI) score relative to placebo. In the 700 mg dose group, patients achieved a 30 percent placebo-adjusted PASI score reduction.

The company plans to advance VTP-43742 into a larger scale 16 week trial in the second half of 2016 and assess the efficacy, safety and tolerability of the compound.

VTAE closed Wednesday's trading at $4.11, down 7.64%. In after hours, the stock was up 58.15% to $6.50.