ContraVir Pharmaceuticals Inc (NASDAQ: CTRV) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced a clinical update that proved to be a positive one. Of course, the news led to excitement among invesotrs, sending the stock screaming for the top. Today, we’ll talk about:
- The clinical update;
- what we’re seeing from CTRV stock as a result; and
- what we’ll be watching for ahead.
CTRV Announces Clinical Update
As mentioned above, ContraVir 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 completed dosing of the first cohort in Part 1 of the Phase 1/2A clinical trial of its investigational antiviral treatment known as CRV 431.
In the release, CTRV said that preliminary data from the first completed cohort suggests that the treatment is save and well-tolerated. Also, the company said that the pharmacokinetic (PK) profile following oral dosing indicates that systemic exposures of CRV 431 are in-line with anticipated exposures from completed pre-clinical studies. In a statement, James Sapirstein, CEO at CTRV had the following to offfer:
Initial data from the first dosing cohort in Part 1 of the Phase 1/2A trial of CRV431 was encouraging, with results indicating the drug is safe and yields a pharmacokinetic profile suggesting favorable oral bioavailability… While early, these results give us confidence as we continue to advance and accelerate the development efforts for CRV431 with the goal of delivering an all-oral combination treatment for the functional cure of hepatitis B virus. CRV431 belongs to a novel class of host-targeting compounds that, to date, have not been used clinically to treat HBV infections and we are excited to further explore its potential in the clinic.
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 ContraVir Pharmaceuticals, the news proved to be overwhelmingly positive. After all, with preliminary results from a clinical study showing safety and a strong pharmacokinetic profile, the company’s work with regard to CRV 431 is receiving a bode of validation. So, it’s no surprise to see that excited investors are sending the stock screaming for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:54), CTRV is trading at $1.22 per share after a gain of $0.33 per share or 36.31% 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 CTRV. In particular, we’re interested in following the continued development of CRV 431 as the treatment is showing promise in healthy volunteers. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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