The U.S. Food and Drug Administration (FDA) has lifted its yearlong testing hold on sovaprevir, Achillion Pharmaceuticals’ latest experimental treatment for the hepatitis C virus (HCV), Reuters reports.

According to industry insiders, sovaprevir has the potential to become one of the first drugs on the market in a new class of interferon-free therapies that work by blocking the protein that allows hep C to replicate. The FDA originally placed a hold on the drug last July because early stage tests showed signs of liver damage in some patients.

Achillion submitted additional data on the drug in September and has finally gotten the green light to resume its trials. However, studies have been limited to a maximum daily dose of 200 milligrams for patients with hepatitis C, and it will be available only in single-dose trials for healthy individuals.

The recent decision has boosted Achillion on the stock market as much as 56 percent, with company share values peaking at $6.65.

To read the full Reuters report, click here.