Zosano Pharma Corp (NASDAQ: ZSAN) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced milestone news, leading to excitement among investors and sending the stock soaring for the top. Today, we’ll talk about the milestone achievement, what we’re seeing from the stock, and what we’ll be watching for with regard to ZSAN ahead.
ZSAN Climbs On Milestone
As mentioned above, Zosano Pharma is having an incredibly strong start to the trading session this morning after announcing that it has achieved a key milestone. In a press release issued early this morning, the company announced that the 100th patient has enrolled and received M207 in the long-term safety study for the acute treatment of Migraine.
M207 is the lead development candidate at ZSAN. The study, M207-ADAM is an open label study that is evaluating the safety of the 3.8mg dose of zolmitriptan in migraine patients who have historically experienced at least 2 migraines per month. In the release, the company said that patients are expected to treat a minimum of 2 migraines per month, with no maximum treatment limits. Overall, the study will evaluate 150 patients over the course of 6 months. So far, 103 patients have qualified and received M207, 77 patients have signed consent and are within the 2-week run-in evaluation period and 278 migraines have been treated since the initiation of the study. In a statement, Dr. Donald Kellerman, ZSAN VP of Clinical Development and Medical Affairs, had the following to offer:
Our clinical investigators are doing an excellent job in patient recruitment and follow-up and we are pleased with the study’s progress… We have reached an important milestone in our M207-ADAM study. With the 100th patient enrolled, we project that 12 months from now, at least 50 of these patients will complete the study and have treated at least two migraines per month. Our investigator partners will continue to reach a sufficient number of patients such that 150 patients will complete six months, but the clinical completion of the study will occur after 50 subjects have completed a year, which we estimate to be in one year.
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 moves. In this particular case, the news surrounding Zosano Pharma proved to be overwhelmingly positive. After all, the news of the milestone achievement brings the company one step further into the development of M207. So, it’s no surprise to see that the stock is making a run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:45), ZSAN is trading at $18.03 per share after a gain of $2.80 per share or 18.07% 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 ZSAN. In particular, we’re interested in following the continued development of M207. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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