Cempra Inc (NASDAQ: CEMP)
Cempra is having an incredibly strong day in the market today. Since the opening bell, the stock has traded well in the green, and it doesn’t look to be giving up the gains any time soon. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to CEMP moving forward.
What We’re Seeing From CEMP
As mentioned above, Cempra is having an incredibly strong day in the market. When the opening bell rang, the stock hit the ground running. After a strong start well into the green, we’ve seen more positive movement throughout the day. At the moment (11:22), CEMP is trading at $7.95 per share after a gain of $0.40 per share or 5.30% thus far today.
Why The Stock Is Gaining
The gains on CEMP come for a very good reason. The company announced today that a Phase 3 clinical trial has begun in Japan. The trial surrounds solithromycin. The fact that it is taking place in Japan is also a key factor. After all, Japan is the world’s second largest antibiotic market. The study will revolve around treating patients with community-acquired bacterial pneumonia (CAPB) as well as other respiratory infections. In a statement, Prabhavathi Fernandes, Ph.D, CEO at Cempra, had the following to offer…
“We are excited and encouraged to see Toyama commencing their Phase 3 program and moving another step closer to the potential approval of solithromycin in Japan, where already high antibiotic resistance and pneumococcus strains and other CABP pathogens is rising, highlighting the urget unmet medical need for new therapies… We are also pleased that the Toyama Phase 3 trial will be against levofloxacin as the comparator, which is the flouroquinolone used most frequently in outpatient CABP treatment…”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CEMP. In particular, we’re excited to see how the Phase 3 trial in Japan goes. Nonetheless, we’ll watch the news closely and bring it 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!
[Image Courtesy of Pixabay]