Ritter Pharmaceuticals Inc (NASDAQ: RTTR) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced that it has completed enrollment in a key Phase 3 clinical trial.
As you could imagine, the news excited investors, pushing the stock on a run for the top. Today, we’ll talk about:
- The trial enrollment;
- what we’re seeing from RTTR stock as a result; and
- what we’ll be watching for ahead.
RTTR Announces Phase 3 Trial Enrollment Completion
As mentioned above, Ritter Pharmaceuticals is having a great day in the market today after the company announced enrollment news. The news was offered through a press release that was issued early this morning.
In the release, RTTR said that it has completed the enrollment in its first pivotal Phase clinical trial of RP-G28. RP-G28 is being developed for the potential treatment of LI in a study known as the “Liberatus” study.
In the release, the company said that trial enrollment exceeded expectations. About 555 patients have been randomized in the trial.
Also, it’s worth mentioning that no single site enrolled more than 10% of the study population and 43% of sites enrolled at least 15 subjects. Finally, more than 30 United States sites are participating in the trial.
Finally, the company said that no safety signals have been reported to date. This continues to confirm the well-tolerated and positive safety profile seen from earlier clinical studies.
In a statement, Andrew J. Ritter, CEO at RTTR, had the following to offer:
We are encouraged and pleased to have achieved this important milestone ahead of schedule. The large number of patients interested in participating in the trial, highlights the clinical need for new treatment options in this patient population.
We remain on track for the top-line data readout of the Liberatus study in early Q4 2019. As we near data readout and continue to build our commercialization strategy for RP-G28, we look forward to advancing our ongoing discussions with potential partners for the continued further development and potential launch of this exciting product candidate.
The above statement was followed up by Mark E. Hunter, MD, Medical Director at Suncoast Research Group. Here’s what he had to say:
I have participated in hundreds of clinical studies and was pleased to be part of the Liberatus trial to evaluate RP-G28 in this under-served patient population.
Patients were keen to participate and as such, recruitment went well. Further, based on the profile of the treatment, patients were motivated to participate, resulting in strong retention and overall good compliance.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Ritter Pharmaceuticals, the news proved to be positive.
After all, the company announced that enrollment has been completed and proved to provide better results than expected. Moreover, safety and tolerability continue to be strong in the beginning of a trial that could support the submission of a New Drug Application to the FDA.
Considering this, 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. At the moment (10:42), RTTR is trading at $0.77 per share after a gain of $0.12 per share or 18.24% 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 RTTR. In particular, we’re interested in following the story surrounding the company’s continued work to bring RP-G28 to patients in need. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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