What Happened?
Shares of biotech company BioMarin Pharmaceutical (NASDAQ: BMRN) jumped 7.3% in the afternoon session after the company announced positive results from a late-stage study for its top-selling medicine, Voxzogo, which could expand its use.
The Phase 3 trial showed that the drug helped boost growth in children with hypochondroplasia, a rare condition that leads to short stature. Participants given Voxzogo grew significantly faster than those who received a placebo, meeting the study's primary goal.
Specifically, the data showed a statistically significant increase in annualized growth velocity of 2.33 cm per year. Voxzogo is already the first drug approved to improve growth in children with achondroplasia, the most common form of dwarfism. Following these successful results, BioMarin plans to submit an application for expanded approval to the U.S. Food and Drug Administration.
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What Is The Market Telling Us
BioMarin Pharmaceutical’s shares are not very volatile and have only had 1 move greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 5 months ago when the stock gained 19% on the news that the company announced it agreed to acquire Amicus Therapeutics for approximately $4.8 billion in an all-cash deal.
The transaction valued Amicus at $14.50 per share, which represented a 33% premium to its last closing price. The acquisition expanded BioMarin's position as a leader in rare diseases by adding two marketed treatments, Galafold and Pombiliti-Opfolda, to its portfolio.
Investors reacted positively as the move was expected to accelerate revenue growth and boost earnings per share within the first year after closing. The deal also received unanimous approval from the boards of directors of both companies, signaling strong support for the merger.
BioMarin Pharmaceutical is down 9.3% since the beginning of the year, and at $53.91 per share, it is trading 15.9% below its 52-week high of $64.08 from February 2026. Investors who bought $1,000 worth of BioMarin Pharmaceutical’s shares 5 years ago would now be looking at only $690.29.
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