Valeritas Holdings Inc (NASDAQ: VLRX) is having a great day in the market today, and for good reason. The company announced new data surrounding its V-Go Wearable Insulin Delivery device, exciting investors and sending the stock on a run for the top. Today, we’ll talk about:
- The data;
- what we’re seeing from VLRX stock as a result; and
- what we’ll be watching for ahead.
VLRX Announces Positive Data
As mentioned above, Valeritas Holdings is having a great day in the market today after the company announced clinical data. The announcement came by way of press release early this morning.
In the release, the company provided the results from the VERDICT study. The results were originally announced at the American Association of Clinical Endocrinologists (AACE) Annual Meeting.
VLRX said that the study results showed that patients with type 2 diabetes who switched to V-Go can improve their average blood sugar levels (A1c) with less insulin. In a statement, John Timberlake, President and CEO at VLRX, had the following to offer:
The efficacy and insulin usage results from the VERDICT study demonstrate both the medical and economic value of V-Go for patients with type 2 diabetes prescribed insulin. Diabetes has become a major healthcare issue and we have demonstrated through strong, real-world evidence the use of V-Go by patients with type 2 diabetes can reduce not only their A1c levels but also lower their total daily insulin usage.
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. When it comes to VLRX, the news proved to be overwhelmingly positive.
After all, the strong data, showing that A1c levels were reduced with less insulin, could lead to improved revenue for the company. So, it’s not surprising to see that excited investors are pushing the stock up in the market this morning.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:53), VLRX is trading at $0.32 per share after a gain of $0.025 per share or 8.32% 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 VLRX. In particular, we’re interested in following the story surrounding the company’s continued work to expand V-Go sales and provide value to investors. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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