Roivant Sciences jumps after lung disease drug meets main goal in mid-stage study
BUZZ-Roivant Sciences jumps after lung disease drug meets main goal in mid-stage study ** Shares of Roivant Sciences ROIV.O rise 21.7% to $42.50 premarket
** The drug developer's Pulmovant unit says its experimental inhaled therapy, mosliciguat, met the primary goal in a mid-stage study in patients with pulmonary hypertension associated with interstitial lung disease
** It is a condition where high blood pressure develops in the lung arteries due to scarring or inflammation in the lungs
** The study showed a 56.3% placebo-adjusted reduction in resistance in the lungs' blood vessels at 16 weeks
** The drug also met secondary goals: improving six-minute walk distance by 35.2 meters vs placebo; reducing levels of NT-proBNP, a biomarker of cardiac strain, by 53.2% at week 16
** Cough, a common side effect associated with inhaled prostacyclin therapies, was reported in 12.1% of patients receiving mosliciguat vs 18.2% on placebo
** ROIV says it has already initiated the late-stage study of mosliciguat and is currently enrolling patients
** As of last close, stock up 61% YTD
(Reporting by Siddhi Mahatole)
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