Study Boosts Renovis Stock

Shares of Renovis Inc. more than doubled Wednesday after an experimental medicine for stroke developed by the South San Francisco company showed promise in a large clinical trial.

But analysts said the drug, called Cerovive, needed further study and would not reach the market before 2007.

Renovis has licensed the drug to AstraZeneca, an Anglo-Swiss drug maker.

The companies said Cerovive reduced disability in acute ischemic stroke patients as measured by the Modified Rankin Scale. But by a second measure, the National Institutes of Health Stroke Scale, the drug was no better than a placebo, the companies disclosed.

Paul Diggle, an industry analyst at Code Securities, called the latest results mildly positive.

Renovis shares leaped $6.38 to $13.17 on Nasdaq and traded as high as $15.04.