Savient's New Gout Treatment Hits Targets (SVNT)

Savient Pharmaceuticals Inc. (NASDAQ: SVNT) is seeing its shares surging in pre-market trading.  The company showed statistically significant positive results for the Puricase Phase III study in treatment-failure of gout patients. Puricase’s 8mg dosage administered by a two-hour intravenous infusion every two weeks or every four weeks met Savient’s primary efficacy endpoint.

Savient also said it plans to file for approval with the FDA in 2008 based on the positive results from these Phase III trials.  If you will recall, this was Jim Cramer’s #1 SPECULATIVE STOCK FOR 2007. 

Shares closed yesterday at $14.46, and the 52-week trading range had been $10.58 to $15.75.  It now looks like it is trading at a new all-time high of $20.95 in pre-market activity.

Jon C. Ogg
December 13, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.