VectivBio jumps on promising mid-stage data for bowel disorder drug

VectivBio Holding AG

13/10/2022 17:54

(Updates)
    ** Shares of drug developer VectivBio Holding AG  VECT.O 
soar 19.3% to a one-year high of $8.1
    ** Co reports positive mid-stage trial data for
investigational drug Apraglutide in patients with short bowel
syndrome that results from inability to absorb nutrients from
food due to a short small intestine  urn:newsml:reuters.com:*:nGNX7jDqyF
    ** Co says the trial tested 5 of 9 patients who had
completed at least six months of treatment and showed an average
50% reduction in parenteral support (PS) volume 
    ** Parenteral support is used for the treatment of people
who are unable to absorb enough nutrients and fluids from food
to support health
    ** Also says 80% of subjects were clinical responders who
achieved at least one day off support in treatment
    ** Co also reports the pricing of an underwritten offering
of 16.7 mln ordinary shares at $7.5/share; expects proceeds of
nearly $125 mln  urn:newsml:reuters.com:*:nGNXbvkSpQ
    ** VECT intends to use proceeds for clinical development of
its lead product candidate Apraglutide  
    ** Including session gains, stock up 64.9% YTD
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))