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While gains were modest across the three major benchmarks today (Tuesday), there was nothing modest about these major gains for Furiex Pharmaceuticals (Nasdaq: FURX) stock.
Shares of Furiex more than doubled in value, surging some 150% intraday. The closed up 129.91% at $105.69. The reason: The company announced that its experimental drug eluxadoline significantly alleviated diarrhea and abdominal pain, which typically accompany irritable bowel syndrome (IBS), in two large late-stage trials.