Satsuma Pharma: Jumps on plan to start new phase 3 trial for migraine treatment

Satsuma Pharmaceuticals

01/03/2021 15:14

** Drug developer's shares  STSA.O  jump 21.2% to $6.88
    ** Co plans to begin a new phase 3 efficacy trial of
investigational migraine treatment STS101 in mid-2021, with
topline results expected in H2 of 2022
    ** Trial to take into account findings from its previous
study, which showed numerical differences in favor of two dose
strengths of STS101 versus placebo but did not achieve
statistical significance  urn:newsml:reuters.com:*:nL4N2G72X3
    ** Co plans to explore dose strengths greater than 5.2 mg by
conducting a phase 1 trial in Q2 of 2021, with its results to
determine dose strength to be utilized in phase 3 trial
    ** Separately, co agrees to sell 14.08 mln shares to certain
institutional investors in a private investment in public equity
(PIPE) financing, at its last closing price of $5.68/shr
 urn:newsml:reuters.com:*:nGNX52czsk
    ** Shares up 23.2% for the year

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))