Biogen Idec Inc. said Monday that the Food and Drug Administration is reviewing its experimental drug Eloctate as a treatment for hemophilia A.
Its shares rose almost 4 percent by midday.
Weston-based Biogen Idec asked the FDA to review the drug in March, and the FDA has accepted that application. Eloctate is intended to be injected once or twice a week, making it a longer-lasting treatment for the condition. Other treatments are taken three or four times a week.
In March, the FDA started a review of Biogen’s drug Alprolix as a treatment for hemophilia B, which is less common and is caused by a different deficiency. Both reviews are expected to take 10 months.
Shares of Biogen Idec rose $8.07, or 3.8 percent, to $221.29 in midday trading. They are trading near the high end of their 52-week range of $126.39 to $226.18.