Pulmatrix Inc (NASDAQ: PULM) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced positive clinical trial results, leading to excitement among investors and sending the stock screaming for the top. Today, we’ll talk about:
- The clinical results;
- what we’re seeing from PULM as a result; and
- what we’ll be watching for ahead.
PULM Heads Up On Clinical Results
As mentioned above, Pulmatrix is having an incredibly strong start to the trading session this morning after the company announced clinical results from a key clinical trial. In a press release, the company announced top-line results for the ongoing first-in-human study of Pulmazole (PUR1900). Pulmazole is an inhaled iSPERSETM formulation of the anti-fungal drug itraconazole for the treatment of allergic bronchopulmonary aspergillosis (ABPA) in patients with athsma.
In the release, PULM said that Pulmazole proved to be well tolerated across all doses tested in all cohorts in Parts 1 and 2. Also, the company said that total systemic exposure over 24 hours is approximately 100 to 400-fold lower that what would be expected following administration of 200 mg of oral Sporanox. As a result, the results ultimately support the potential of Pulmazole as an improvement to the safety profile of oral Sporanox. In a statement, Robert W. Clarke, Ph.D., CEO at PULM, had the following to offer:
The trial results suggest that inhalation of itraconazole can be safe and well tolerated and may be a better approach to treating ABPA, a disease for which there are no currently approved therapies… The reduced systemic exposure combined with the safety and tolerability profile observed supports the feasibility and potential differentiated benefits associated with this route of administration to treat aspergillus-related diseases in the lungs.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In the case of Pulmatrix, the news proved to be overwhelmingly positive. After all, there are few bits of information that will excite biotechnology investors quite like clinical data. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:47), PULM is trading at $0.66 per share after a gain of $0.091 per share or 16.06% 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 PULM. In particular, we’re interested in following the story surrounding the ongoing development of Pulmazole as the treatment seems to be showing some serious promise. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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