Catabasis Pharmaceuticals Inc (NASDAQ: CATB) is having an incredible start to the day in the pre-market hours this morning, and for good reason. The company released positive clinical results, leading to excitement among investors and gains in the stock. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:06), CATB is trading at $1.95 per share after a gain of $0.45 per share (30.00%) thus far today.
CATB Releases Positive Data
As mentioned above, Catabasis Pharmaceuticals is having a strong day in the market today after releasing favorable data. The data comes from the MoveDMD trial and was released at the American Academy of Neurology 69th Annual Meeting. According to the release, Part B of the MoveDMD trial was a big success. Numerical improvements were seen in prespecified rate change analyses across five functional assessments. In a statement, Joanne Donovan, M.D., Ph.D., Chief Medical Officer at CATB, had the following to offer:
“Following our completed analysis of the rate of change data from Part B of the MoveDMD trial, we are encouraged by the consistency of the possible treatment effects across the range of functional assessments after only 12 weeks of dosing as well as the numerical improvements in functional assessments compared to placebo. These functional assessments are meaningful to boys affected by Duchenne and are know to correlate with loss of milestones and disease progression… Coupled with the reassuring safety, tolerability and plasma exposure data in patients affected by Duchenne, we are optomistic about edasalonexent’s potential and look forward to continuing to evaluate it as a novel treatment for this devastating disease.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CATB. In particular, we’re interested in following the company through the continued development of edasalonexent and hopeful that this will prove to be the much needed treatment the DMD community has been looking for. We’ll continue to follow the story closely and bring it to you as it breaks!
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