Eiger Biopharmaceuticals Inc (NASDAQ: EIGR) is off to a pretty strong start in the pre-market trading hours this morning, and for good reason. The company released positive data surrounding a Phase 2 clinical trial. Of course, this led to excitement among investors, pushing the stock upward and prompting our partners at Trade Ideas to alert us to the gains. At the moment (8:38), EIGR is trading at $7.00 per share after a gain of $0.10 per share or 1.52% thus far today.
EIGR Gains On Positive Clinical Data
As mentioned above, Eiger Biopharmaceuticals is off to a strong start today in the pre-market trading hours. The gains are ultimately the result of the company’s release of positive data from a Phase 2 clinical trial. The trial was a multiple-ascending dose study designed to evaluate subcutaneous (SC) exendin 9-39 in post-bariatric surgery patients who experience dangerously low, postprandial blood glucose levels. A liquid and lyophilized formulation of SC exendin 9-39 were evaluated during the study.
During the 2017 American Diabetes Association meeting yesterday, the company presented results available from 19 out of the 20 patients included in the study. Of course, the results proved to be overwhelmingly positive. In a statement, Lisa Porter, MD., SVP of the Metabolic Disease arm of EIGR, had the following to offer…
“We are very encouraged by these results and our progress with SC exendin 9-39 in PBH patients, including data using Eiger’s new proprietary liquid formulation of SC exendin 9-39…” Liquid SC exendin 9-39 offers a more patient friendly formulation, and may provide an opportunity for lower and less frequent dosing due to enhanced drug exposure. Exendin 9-39 is the first potential targeted therapy for patients suffering from PBH, a significant unmet medical need.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on EIGR. In particular, we’re interested in following the company through their ongoing work with regard to exendin 9-39 and excited for future results. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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