Icagen plans to resume clinical trials of an experimental epilepsy drug after federal regulators lifted a hold on the tests.
Last fall, the Durham drug-development company stopped clinical trials after a patient experienced a "serious adverse event." Officials have said that no one died, but haven't disclosed what happened.
The company announced this morning that the Food and Drug Administration has approved Icagen's plans for further clinical tests. Icagen will determine its next steps shortly, said CEO P. Kay Wagoner, in a prepared statement.
Icagen shares rose 31 cents to close at $3.72. The shares have more than tripled since September, on investor optimism that several experimental drugs show promise.
Icagen also is developing pain treatments under a partnership with Pfizer.