Valeritas Holdings Inc (NASDAQ: VLRX) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The comapny announced positive results from a key clinical study. Of course, the positive results excited investors, sending the stock screaming for the top. Today, we’ll talk about:
- The study;
- what we’re seeing from the stock as a result; and
- what we’ll be watching for haead.
VLRX Gains On Study Results
As mentioned above, Valeritas Holdings is having an incrediblys trong start to the trading session this morning after announcing positive clinical results. In a press release issued early this monring, the company announced results from the EffectiveNess of V-Go WeArable Insulin Delivery for Basal-BoLus ThErapy (ENABLE) Study.
VLRX provided the data in three poster presentations at the American Diabetes Association Meeting in Orlando, FL. In the release, the company said that patients who switched from insulin pens and syringes to V-Go significantly improved blood glucose while lowering the dose of insulin received by the patients. In a statement, John Timberlake, CEO at VLRX, had the following to offer:
The largest study of V-Go patients to date has demonstrated that regardless of baseline insulin dose or duration of diabetes, patients who switched to V-Go significantly lowered their blood glucose. We believe that is significant for diabetes patients, their medical professionals, payors, and Valeritas.
We recently reported our third consecutive quarter of record revenue which is a direct result of V-Go gaining momentum among patients with type 2 diabetes. V-Go is discreet, simple-to-use, cost-effective, clinically proven, and the only disposable, daily insulin delivery option.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news causes moves. In the case of Valeritas, the news proved to be overwhelmingly positive. After all, in terms of biotechnology companies, there are few factors that have the ability to lead to quite as much excitement as positive clinical results. So, it’s no surprise that with the results in mind, investors are sending the stock on a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:59), VLRX is trading at $1.87 per share after a gain of $0.45 per share or 31.69% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on VLRX. In particular, we’re interested in following the story surrounding the company’s continued work to bring V-Go to market, especially following the overwhelmingly positive results that were announced today. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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