Savara Inc (NASDAQ: SVRA) is having an overwhelmingly strong day in the market today, and for good reason. The company issued a PR early this morning, updating investors with regard to a key Phase 2 clinical trial. Of course, the data was positive, leading to a frenzy among investors and prompting our partners at Trade Ideas to alert us to the gains. At the moment (11:00), SVRA is trading at $5.94 per share after a gain of $0.43 per share (7.80%) thus far today.
SVRA Gains On Clinical Update
As mentioned above, Savara is having an incredibly strong day in the market today after reporting positive results from an ongoing Phase 2 clinical trial. The trial includes 50 patients and is designed to assess Aaironite in patients with pulmonary hypertension, also known as PH, from multiple different etiologies. The results the company offered were presented during a lecture at the 4th Annual Drug Discovery and Development Symposium for Pulmonary Hypertension yesterday by lead investigator Marc A. Simon, M.D., M.S., FA.C.C., Associate Professor of Medicine, Bioengineering and Clinical Translational Science and Director of Heart Failure Research and Clinical Hemodynamics Core Facility at Pittsburgh Heart, Lung, and Blood Vascular Medicine Institute at the University of Pittsburgh.
In the announcement, investors learned that in the 41 patients who have received administration of Aironite, there has been significant improvement in multiple hemodynamic measures. Most importantly, improvements in patients with pulmonary hypertension due to heart failure with preserved ejection fraction (PH-HFpEF) showed significant results. The results showed a decrease in right artrial pressure, systolic and diastolic right vascular pressure, systolic and diastolic pulmonary artery pressure, and pulmonary capillary wedge pressure. In a statement, Taneli Jouhikainen, M.D., Ph.D., CEO at SVRA, had the following to offer:
“These additional results build upon prior interim data published last year in the Journal of Clinical Investigation, and demonstrate that Aironite can significantly improve cardiopulmonary hemodynamics in HFpEF as well as Group 3 PH patients, both clinical conditions which are inadequately treated by currently approved medicinal treatments… If the observed short-term improvements are translated into clinically meaningful functional improvements in our ongoing placebo-controlled studies in HFpEF patients, we believe the product will have exciting potential to be advanced toward Phase 3 studies and hopefully an eventual NDA filing.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on SVRA. In particular, we’re interested in the ongoing work the company is doing with regard to bringing Aironite to the market, as the results seem to be overwhelmingly impressive. We’ll continue to follow the story closely and bring the news to you as it breaks!
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