Shares of Mallinckrodt PLC MNK, +0.00% soared 19% in premarket trading Monday, after the drugmaker said a phase 3 trial of its investigational StratGraft regenerative tissue met both primary endpoints of efficacy and safety. “Results showed that a significantly smaller area of burn wounds treated with StrataGraft tissue required autografting by three months compared to the area of burn wounds treated exclusively with autograft,” the company said. Mallinckrodt said it plans to submit a Biologics License Application (BLA) for StrataGraft tissue to the Food and Drug Administration in the first half of 2020. Mallinckrodt said it is also currently evaluating StrataGraft tissue in a phase 2 tral for the treatment of adults with third-degree burns. The stock has plummeted 84.6% year to date through Friday, while the S&P 500 SPX, -0.49% has rallied 19.4%.