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 Updates
** Shares of Roivant Sciences ROIV.O rise 16.3% to an all-time high of $41.05
** Roivant's Pulmovant unit says its experimental inhaled therapy, mosliciguat, met the main 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
** "This is well above the 10-20 meters bar for success that we and investors were looking for," J.P.Morgan says
** ROIV says it has already initiated the late-stage study of mosliciguat and is currently enrolling patients
** Including session moves, stock up 82.2% YTD
(Reporting by Siddhi Mahatole)
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