Pfizer (NYSE:PFE), Icagen (NASDAQ:ICGN) Have Drug Hold on Epilepsy Drug Removed

The clinical hold on Pfizer's (NYSE:PFE) and Icagen's (NASDAQ:ICGN) epilepsy has been removed by the U.S. Food and Drug Administration, after putting it on hold in lieu of a final review of data from the laboratory.

Icagen is now looking at more partnership opportunities, along with existing partner Pfizer. The drug is now back on track for mid-stage trials.

Approximately 3 million Americans have epilepsy, with about 30 percent of those not finding current drugs on the market meeting their needs.

The clinical hold on the drug was removed in response from the release of a proposed protocol for the mid-stage trial, along with clinical studies that had been recently completed.

Icagen's Chief Executive Officer Kay Wagoner said, "We are pleased with the FDA's action and will shortly be determining the next steps in the clinical development."

The next trial will focus on how well the drug actually treats epilepsy and what, if any, adverse side effects it may have.

Icagen (NASDAQ:ICGN) was trading at $3.83, up $0.42, or 12.32 percent, as of 12:36 PM EST. Pfizer was trading at $18.83, down $0.19, or 1 percent.