Anthera Pharmaceuticals Inc (NASDAQ: ANTH) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced top-line data from a key clinical trial, leading to excitement among investors and sending the stock toward the top. Of course, our friends at Trade Ideas were the first to alert us to the gains. At the moment (9:26), ANTH is trading at $1.55 per share after a gain of $0.26 per share (20.16%) thus far today.
ANTH Gains On Clinical Data
As mentioned above, Anthera Pharmaceuticals is having an overwhelmingly strong start to the trading session this morning after announcing data from a Phase 2 clinical study known as BRIGHT-SC. The study was a randomized, double-blind, placebo-controlled clinical study assessing blisibimod in patients with IgA nephropathy. According to the release, some patients received treatment for up to 2 years, while all patients received treatment for a minimum of 60 weeks.
The data showed that blisibimod appeared to halt disease progression. This was measured by the mean estimate of 24-hour urinary protein exertion levels, also known as proteinuria. In particular, patients treated with blisbimod showed a mean change in proteinuria that was stable and trending slightly downward. On the placebo arm, proteinuria levels increased.
It’s also important to note that the data released by ANTH showed that blisbimod demonstrated a trend toward preservation of renal function. This was based on individual rates of change in estimated glomerular filtration rate. This rate showed an annualized improvement of +6.2mL/min/1.73 m2 per year compared to a worsening of -4.8 mL/min/1.72 m2 of body surface area when treated with the placebo. In a statement, Craig Thompson, President and CEO at ANTH, had the following to offer:
“We are very pleased with the final extension data and believe that the recent findings, as well as the orphan designation granted by the US Food and Drug Administration (US FDA) provide a strong rationale to continue the clinical development of blisibimod for the treatment of IgA nephropathy… We look forward to sharing these findings with the FDA and proceedings with a Phase 3 trial for patients with IgAN.”
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ANTH. In particular, we’re interested in following the company through the development of blisibimod, as the treatment continues to show promising results. We’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!