Acasti Pharma jumps on late-stage trial plans for lead drug

Grace Therapeutics

05/07/2023 15:21

** Shares of drug developer Acasti Pharma Inc  ACST.O  rise
10% to 57 cents
    ** Co says it has "aligned" with the U.S. Food and Drug
Administration (FDA) on the protocol for the late-stage trial
for its lead drug GTX-104, confirms start in Q4 2023
    ** Says it has all the necessary information from the FDA to
initiate the trial to evaluate its safety and tolerability
profile relative to oral nimodipine
    ** Anticipates first patient dosing in Q4 this year and a
potential marketing application submission in H1 2025
    ** GTX-104 is being developed for intravenous infusion in 
patients with subarachnoid hemorrhage which causes bleeding over
the surface of the brain
    ** Nimodipine is used to decrease brain damage that may be
caused by a subarachnoid hemorrhage
    ** Stock up ~14% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))