AMAG Pharma cites positive treatment results

Biotechnology company AMAG Pharmaceuticals Inc. said Wednesday mortality rates for patients taking the experimental iron deficiency treatment ferumoxytol were lower compared with those taking oral iron pills.

In December, the company asked the Food and Drug Administration to approve intravenous ferumoxytol as an iron deficiency treatment for chronic kidney disease patients with anemia. Shares plunged to their lowest point in more than a year at one point during trading Wednesday as investors worried about the drug candidate's chances of receiving FDA approval.

On Friday, the FDA will discuss the safety of a similar drug, called Injectafer, made by Daiichi Sankyo Co. The committee set to review that drug released a list of questions on possible safety risks.

Late Wednesday, AMAG said there were 31 deaths out of 2,074 patients in multiple studies for its lead drug candidate ferumoxytol. Still, AMAG said the mortality rates are consistent with data previously reported and are not considered related to the experimental treatment.

The company also said fewer patients receiving ferumoxytol in several studies experienced adverse events compared with oral iron treatment.

Shares of AMAG rose 98 cents, or 2 percent, to $51 in after-hours trading after falling $5.64, or 10.1 percent, to close at $50.02 during regular trading. (AP)