Innovate Biopharmaceuticals Inc (NASDAQ: INNT) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced positive data, exciting investors and sending the stock for the top. Today, we’ll talk about:
- The data that was released;
- what we’re seeing from INNT stock as a result; and
- what we’ll be watching for ahead.
INNT Stock Climbs On Data
As mentioned above, Innovate Biopharmaceuticals is having a great start to the trading session today after announcing positive data. The announcement came by way of press release early this morning.
In the release, INNT said that larazotide acetate, a new class of medicine based on gut-restricted peptieds, is the first drug with the novel mechanism to show improvements in validated NASH biomarkers and endpoints.
In the release, the company said that key topline findings from a biopsy-proven transational mouse model of NASH will be presented at an analyst meeting at the Digestive Disease Week conference on May 20, 2019. The conference will take place in San Diego. The company also said that the data has been submitted to The Liver Meeting of the American Association for the Study of Liver Diseases (AASLD).
In a statement, Sandeep Laumas, M.D., CEO at INNT, had the following to offer:
The first quarter of 2019 was focused on continued preparation for the first celiac disease phase 3 clinical trial. Larazotide’s positive effect in a pre-clinical model has, for the first time shown, a novel mechanism for treatment of NASH in combination with other drugs.
We are very excited with this data along with previous preclinical studies (AASLD 2018 abstracts) could seek to move to a proof-of concept clinical trial after receipt of additional financing. The unique mechanism of larazotide has consistently proven itself in a series of models for multiple diseases. We are also awaiting data from the immuno-oncology microbiome study which is studying larazotide’s effect on converting checkpoint inhibitor / PD-1 non-responders to responders via modulation of gut permeability and the microbiome.
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 leads to moves. When it comes to Innovate Biopharmaceuticals, the news proved to be overwhelmingly positive.
After all, should all go well in the development of larazotide acetate, the treatment could be a blockbuster with the potential to yield incredible revenues ahead. So, it’s not surprising to see that excited investors are pushing the stock on a run for the top.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:46), INNT is trading at $2.16 per share after a gain of $0.26 per share or 13.95% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to follow INNT closely. In particular, we’re interested in following the development of larazotide acetate as the treatment could become a major source of value for investors. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!
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