Akari Therapeutics PLC (NASDAQ: AKTX) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced positive data, exciting investors who are sending the stock for the top. Today, we’ll talk about:
- The clinical data;
- what we’re seeing from AKTX stock as a result; and
- what we’ll be watching for ahead.
AKTX Announces Positive Clinical Data
As mentioned above, Akari Therapeutics is having a great day in the market today after announcing positive data. The announcement came by way of press release early this morning.
In the release, AKTX provided positive initial Phase II clinical data from the first of three of bullous pemphigoid (BP) patients in the trial. BP is a severe orphan inflammatory skin disease that is currently treated primarily with steroids and immunosuppressants.
Unfortunately, these bring serious side effects. Moreover, the efficacy of these treatments depends on the severity of the disease.
In the release, the company said that initial results from the first three patients showed that Nomacopan, dosed daily subcutaneously, was well tolerated in three elderly patients. Moreover, there were no drug-related adverse events.
Before the study, two of the three patients were already on topical corticosteroids while a third was naive to steroid treatment. Steroids were reduced weeky and by day 21, none of the patients were being treated with steroids.
By Day 7, 21, and 42 of treatment with Nomacopan, the BPDAI global score fell by a mean of 31%, 45% and 52%, respectively. Moreover, blisters/erosions dropped by 45%, 75% and 87%, respectively.
In a statement, Clive Richardson, interim CEO at AKTX, had the following to offer:
As a result of this encouraging data, we plan to expand the trial to include additional severe patients by way of an amendment. We believe this promising data helps validate our strategy of focusing on those poorly treated orphan diseases where both C5 and LTB4 are implicated.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Akari Therapeutics, the news proved to be overwhelmingly positive.
After all, this positive data further validates the work that the company is doing in the treatment of BP. So, it’s not surprising to see that excited investors are pushing the stock on a run for the top.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:46), AKTX is trading at $4.62 per share after a gain of $1.27 per share or 37.90% 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 AKTX. In particular, we’re interested in following the story surrounding the company’s continued work to bring Nomacopan to market. Nonetheless, we’ll keep a close eye on the news and bring it to you as it breaks!
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