Arrowhead Pharmaceuticals Inc (NASDAQ: ARWR) is having an overwhelmingly strong start to the trading session, and for good reason. The company announced a clinical update surrounding a key Phase 1/2 clinical study. Of course, the update was positive, leading to excitement among investors and sending the stock screaming for the top. Today, we’ll talk about the news, what we’re seeing from the stock, and what we’ll be watching for with regard to ARWR ahead.
ARWR Gains Big On Clinical Update
As mentioned above, Arrowhead Pharmaceuticals is having an incredibly strong start to the trading session this morning after the company announced a clinical update. In a press release issued early this morning, the company announced that it has dosed the first subjects in the Phase 1/2 clinical study of ARO-HBV. ARO-HBV is the second clinical candidate developed using ARWR proprietary Targeted RNAi Molecule, also known as TRiMTM, technology.
In a statement, Bruce Given, M.D., Chief Operating Officer and head of R&D at ARWR, had the following to offer:
We are proud of how quickly ARO-HBV moved through preclinical studies and are excited to be starting first-in-human clinical studies. The AROHBV1001 Phase 1/2 clinical study has an innovative design that is intended to assess, in parallel, safety and tolerability in healthy volunteers and multiple-dose anti-viral activity in HBV patients. Our experience with two prior compounds, ARC-520 and ARC-521, provides us with confidence that ARO-HBV, which is designed to target all viral transcripts, including those produced by both CCCDNA and HBV DNA integrated into host DNA, has the potential to be a backbone therapy in combinations aimed at achieving a functional cure of chronic HBV infection.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In this particular case, the news proved to be overwhelmingly positive as Arrowhead Pharmaceuticals moves forward with a key clinical trial. So, it’s no surprise to see the stock screaming for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:57), ARWR is trading at $7.96 per share after a gain of $1.02 per share or 14.77% 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 ARWR. In particular we’ll continue to follow the story surrounding the company’s work with regard to ARO-HBV. Nonetheless, we’ll continue to keep an eye out and bring the news to you as it breaks!
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