InterMune leaps 62% after US FDA advisory backs the firm's pirfenidone for idiopathic pulmonary fibrosis

On a day that saw Nasdaq trading of US biotechnology firm InterMune's shares halted as regulators debated approval of one of its lead drug candidates, the stock leapt 62% to $37.65 in after hours transactions, when the Food and Drug Administration's Pulmonary-Allergy Drugs Advisory Committee voted by a narrow nine to three to recommend approval of pirfenidone for the treatment of patients with idiopathic pulmonary fibrosis (IPF) to reduce decline in lung function.

InterMune jumped 59% on March 5, the most since its March 2000 initial public offering, after the FDA staff released a preliminary review of pirfenidone that was not as harsh as analysts expected.

Mean sales projection of $715 million