Inventiva jumps on 4-mln-euro payment for psoriasis drug trial

Inventiva SA

01/02/2022 08:46

** Shares in Inventiva  IVAA.PA  rise more than 5%, heading
for their best day in over 3 months, after the French drug
developer said it received a 4-million-euro ($4.50 million)
milestone payment in psoriasis drug trial
    ** The company received the payment from AbbVie  ABBV.N ,
following the inclusion of the first patient with psoriasis in
the ongoing phase IIb clinical trial with cedirogant, a drug
candidate for the treatment of moderate to severe
psoriasis urn:newsml:reuters.com:*:nL8N2UC0WE
    ** The milestone follows AbbVie's announcement in H1 2021
that it would move cedirogant into Phase II after very promising
initial results, Portzamparc ("buy") says 
    ** This payment reinforces a cash position that already
provided more than 12 months of visibility, with 105 million
euros as of Sept. 30, it adds


($1 = 0.8886 euros)

 (Reporting by Kate Entringer)
 ((kate.entringer@thomsonreuters.com))