Receptos Inc. stock was up 5 percent Thursday morning following the company’s announcement regarding its lead product candidate ozanimod.

Receptos said the maintenance period of its Phase 2 trial of ozanimod for the treatment of ulcerative colitis met all efficacy endpoints with statistical significance in patients on the 1 mg dose of ozanimod after 32 weeks of treatment.

The overall safety and tolerability profile of ozanimod was consistent with previous results, and continues to support the potential for orally administered ozanimod to significantly improve the treatment paradigm for ulcerative colitis patients.

Receptos plans to initiate a Phase 3 program in 2015 in patients with moderately to severely active ulcerative colitis to confirm these findings. In addition, these results continue to suggest the potential for ozanimod to be used in the treatment of Crohn's disease, a related inflammatory bowel disease. Receptos plans to initiate a Phase 2 study of ozanimod for the treatment of Crohn's disease in 2015, according to a recent news release.

Receptos stock was trading for $166.25 on the Nasdaq under the stock symbol RCPT.