PhaseBio Pharmaceuticals Inc (NASDAQ: PHAS) is making a run for the top in the market this morning, and for good reason. The company announced positive clinical data from a Phase 1 clinical trial.
As you could imagine, the news proved to excite investors who are pushing the stock for the top. Today, we’ll talk about:
- The data;
- what we’re seeing from PHAS stock as a result; and
- what we’ll be watching for ahead.
PHAS Stock Climbs On Strong Clinical Data
As mentioned above, PhaseBio Pharmaceuticals is having a great day in the market today after announcing positive clinical data. In a press release, the company offered up complete results from a Phase 1 clinical trail.
The trial focused on the company’s candidate PB2452. PB2452 is a novel reversal agent for the antiplatelet drug ticagrelor. In the release, the company said that the data demonstrate that the treatment provides an immediate and sustained reversal of ticagrelor antiplatelet effects.
Moreover, the safety and tolerability profile of the treatment proved to be positive. PHAS said that there were no drug-related serious adverse events observed.
Moreover, the results of the clinical trial were published in the New England Journal of Medicine. The title of the paper that mentioned the data is “An Antibody-Based Ticagrelor Reversal Agent in Normal Volunteers.” The data were also presented by Deepak Bhatt, M.D., M.P.H., at the American College of Cardiology’s 68th Annual Scientific Session in New Orleans.
In a statement, Dr. Bhatt, had the following to offer:
Patients taking ticagrelor to reduce the risk of a cardiac event are currently without an effective method to reverse its antiplatelet effects, which increases the risk of spontaneous major bleeding and can quickly produce life-threatening bleeding should they require emergency surgery.
The results from the Phase 1 trial demonstrate that intravenous PB2452 provided immediate and sustained reversal of ticagrelor antiplatelet activity, thereby potentially reducing the bleeding risk associated with ticagrelor. The data support further evaluation of PB2452 for the reversal of the antiplatelet effects of ticagrelor in emergency situations involving major bleeding and to enable emergent or urgent surgery in patients.
The above statement was followed up by John Lee, M.D., Ph.D., CMO at PHAS. Here’s what he had to offer:
We are encouraged by the clinically meaningful results from the Phase 1 trial, which demonstrate the potential of PB2452 to provide immediate and sustained reversal of ticagrelor antiplatelet activity.
Furthermore, PB2452 exhibited a very favorable safety profile in healthy volunteers. Today’s oral presentation at ACC.19 and simultaneous publication in the New England Journal of Medicine highlight the strength of the data and the potential for PB2452 to address significant unmet medical need. We look forward to initiating a Phase 2a trial of PB2452 in the first half of this year and continuing to evaluate PB2452 as the first reversal agent for ticagrelor.
What We’re Seeing From The Stock
One of the first lessons that we learn when we dive into the market is that the news leads to moves. When it comes to PhaseBio, the news proved to be positive.
After all, in the clinical-stage biotechnology space, there are few catalysts that have the potential to lead to the type of movement we see when positive results are released. So, it’s not surprising to see that the stock is making a run for the top as excited investors provide the fuel for the fire.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (12:13), PHAS is trading at $5.88 per share after a gain of $2.16 per share or 58.06% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on PHAS. In particular, we’re interested in following the story surrounding the company’s continued work to bring PB2452 to market, following the strong results that were announced today. Nonetheless, we’ll continue to follow the story closely and bring the news 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!