AMAG shares jump on FDA news

AMAG Pharmaceuticals Inc. of Lexington said today in a press release that the Food and Drug Administration has accepted additional data filed on its anemia drug candidate ferumoxytol, and should making a ruling on the drug's approval by Dec. 30.

The news sent AMAG shares surging $14.12, or 77 percent, to $32.49 in morning trading on the Nasdaq Stock Market. That puts the stock closer to its $36.75 closing price on Oct. 17, just before the FDA requested additional information.

The FDA's request last month potentially delayed the drug's approval and sent AMAG shares to a new 52-week low. AMAG did not detail the kind of information requested.

AMAG hopes to begin selling ferumoxytol, the company's lead drug candidate, in the first quarter of 2009 as a treatment for patients with kidney disease who suffer from iron deficiency anemia. (AP)