Myokardia Inc (NASDAQ: MYOK) is having an incredible start in the market this morning after reporting overwhelmingly positive topline data from a Phase 2 clinical study. As you would imagine, this sent investors into a frenzy, causing the stock to skyrocket. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:23), MYOK is trading at $23.40 per share after a gain of $6.25 per share (36.44%) thus far today.
MYOK Gains On Positive Clinical Data
As mentioned above, Myokardia is having an incredibly strong time in the market early on today after announcing positive topline data from a Phase 2 clinical study. The data came from the first patient cohort of the company’s Phase 2 PIONEER-HCM study of Mavacamten. Mavacamten is designed for the treatment of symptomatic, obstructive, hypertrophic acardiopathy patients.
In their release, MYOK said that the first patient cohort met the primary endpoint of change in post-exercise peak left ventricular outflow tract gradient from baseline to week 12. The treatment also met key secondary endpoints, which included peak oxygen consumption. In a statement, Stephen Heither, M.D., Director of the HCM Clinic at Oregon Health and Science University’s Knight Cardiovascular Institute and Lead Investigator in the PIONEER-HCM study, had the following to offer:
“We are very encouraged by the observed physiological effects of mavacamten in this study… These results continue to build the body of evidence linking the mechanistic hypothesis of mavacamten to potential clinical benefit in symptomatic, obstructive HCM patients.”
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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 MYOK. In particular, we’re interested in ongoing data releases from the Mavacamten clinical study and excited for the final results and to see where the treatment is headed. We’ll continue to follow the story closely and bring the news to you as it breaks!