Ritter Pharmaceuticals Inc (NASDAQ: RTTR) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced clinical data from a key Phase 2b study. Of course, the positive data led to excitement among investors and gains in the value of the stock. Today, we’ll talk about the news, what we’re seeing from RTTR, and what we’ll be watching for ahead.
RTTR Gains On Positive Data
As mentioned above, Ritter Pharmaceuticals is having a great start to the trading session this morning after announcing positive clinical data. In a press release early this morning, the company announced that its lead clinical candidate, RP-G28, promoted beneficial adaption of the gut microbiome in its Phase 2b study.
In the release, RTTR reminded investors that the study included 377 patients that experience lactose intolerance. RP-G28 was designed to treat lactose intolerance by increasing the number of lactose-betabolizing bacteria in the patient colon. Ultimately, this is thought to compensate for the deficit of endogenous lactase activity. In the release, the company explained that it saw a dramatic increase in the key bacteria species, Bifidobacterium, meeting its primary endpoint. In a statement, Dr. Andrea Azcarate-Peril, Associate Professor of Medicine at University of North Carolina at Chapel Hill, had the following to offer with regard to the news reported today by RTTR:
These findings are consistent with the Phase 2a clinical data of RP-G28 for the treatment of lactose intolerance… During the Phase 2a study, we observed an increase in bifidobacteria, which were confirmed in this larger Phase 2b study. This is significant since Bifidobacterium have proven health benefits for both the gastrointestinal tract and the immune system.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dabble in the market is that the news causes movement. In this particular case, the news proved to be overwhelmingly positive. After all, in the world of clinical-phase biotechnology companies like Ritter Pharmaceuticals, there are few things better than positive clinical data. So, it’s no surprise to see that the stock is making a run for the top today. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:44), RTTR is trading at $0.32 per share after a gain of $0.03 or 8.94% 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 continued development of RP-G28 as well as the rest of the company’s pipeline. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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