Cempra Inc (NASDAQ: CEMP)
Cempra is having an overwhelmingly strong day in the market today. At the opening bell, the stock was already trading with impressive gains. Since the bell, we’ve seen a bit of movement in both directions, but the stock is still holding onto the profits. Below, we’ll talk about what we’re seeing from CEMP, why, and what we’ll be watching for ahead.
What We’re Seeing From CEMP
As mentioned above, Cempra is having an incredible time in today’s trading session. When the session started, the stock had already reached dramatic gains. Since the open, we’ve seen some upward and some downward movement, but one thing is clear; the stock is likely to close with impressive gains. At the moment (9:54), CEMP is trading at $4.36 per share after a gain of $1.21 per share (38.41%) thus far today.
Why The Stock Is Gaining
As is almost always the case, our partners at Trade Ideas were the first to inform us of the gains on CEMP. As soon as we received the alert, the CNA Finance team started digging to see exactly what was causing the upward movement. It didn’t take long to dig up the story. It seems as though today’s gains are the result of positive data released from a Phase 3 study.
Early this morning, Cempra released clinical data from its phase 3 study of oral fusidic acid. During the study, 716 patients were treated, and the results met the primary endpoint. In the treated patient population, the treatment proved non-inferiority of oral fusidic acid compared to oral linezolid for early clinical response in the treated patient population. In a statement, David Oldach, M.D., CMO at CEMP, had the following to offer:
“We are excited that the results of this Phase 3 study with fusidic acid confirm the results of our phase 2 study and are consistent with the more than 40 years of experience that the product has accumulated outside of the United States.”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CEMP. In particular, we’ll be watching the company as it takes fusidic acid to the next level, pushing for FDA approval. We’ll keep a close eye on the news and continue to bring it to you as it breaks!
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