Innoviva jumps as FDA panel backs multidrug-resistant bacterial infections drug

Innoviva

18/04/2023 10:32

** Shares of Innoviva Inc  INVA.O  up 11.7% at $13.40 before
the bell
    ** A panel of U.S. FDA advisers unanimously voted in favor
of INVA's experimental antibiotic in the treatment of serious
bacterial infections, typically associated with hospitalizations
    ** The panel voted 12-0 in favor of the intravenous
investigational drug, Sulbactam-durlobactam
    ** The drug showed a favorable safety profile and
statistically significant reduction in nephrotoxicity, or damage
caused to kidneys, in a late-stage trial when compared to a key
last-line antibiotic therapy, colistin, in patients with
infections caused by bacteria
    ** As of last close, INVA down ~9% YTD

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))