Innoviva rises as FDA staff says no new concerns for antibiotic

Innoviva

13/04/2023 19:41

** Shares of drugmaker Innoviva Inc  INVA.O  rise ~3% to
$12.06
    ** U.S. FDA staff says there were "no unexpected safety
signals identified" in Innoviva's development program for
experimental drug sulbactam-durlobactam, according to briefing
documents published on the health regulator's website
    ** A panel of outside advisers to FDA is set to meet on
April 17 to discuss use of the drug 
    ** The drug is for the treatment of infections caused by
pathogens belonging to a group of bacteria known as
Acinetobacter baumannii-calcoaceticus complex 
    ** Sulbactam-durlobactam is the lead asset of Entasis
Therapeutics, which was acquired by Innoviva last year
    ** Stock down ~9% YTD 

 (Reporting by Raghav Mahobe and Sriparna Roy)
 ((Raghav.Mahobe@thomsonreuters.com;))