After a long period of low price levels the Danish biotech’s stocks got a huge boost from positive data released on Monday

Shareholders in Neurosearch had a memorable Wednesday, as the Danish biotech company’s stocks nearly doubled on news that its Huntington’s disease medicine looks to be bound for success.

Neurosearch shares went from 126 kroner per share on Tuesday morning to 198 kroner by Wednesday and were still rising. The company’s stocks had been swinging just above and below the 100 kroner mark since late 2008 and had long lain well below its all-time high of 325 kroner per share, reached in 2007.

But phase III data released on Monday for the company’s Huntexil drug were extremely favourable, and analysts believe the medicine now has a good chance to be approved on the US and European markets.

A spokesman for Neurosearch said applications for approval on the two markets would be sent in before the end of the year.