(Reuters) -Ionis Pharmaceuticals’ shares surged on Tuesday before the bell after the drugmaker said its experimental treatment significantly reduced levels of blood fats called triglycerides and reduced pancreatitis risk in two large late-stage studies.

Shares of the Carlsbad-based company were up about 17% in premarket trading.

Ionis plans to seek approval for the drug, called olezarsen,in the U.S. by year-end.

The drugmaker was testing olezarsen in two trials with nearly 1,100 patients combined who had severe hypertriglyceridemia, a condition where fat levels in the blood are too high, raising the risk of heart disease and pancreatitis.

The drug cut triglyceride levels by up to 72% compared with placebo.

RBC Capital Markets analyst Luca Issi called the results “splashier-than-expect

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