logo
Plus   Neg
Share
Email

Reata Shares Jump 35% After Neuromuscular Disorder Drug Study Meets Endpoint

Shares of Reata Pharmaceuticals Inc. (RETA) jumped 35% after hours Monday after the biotech company announced positive results from a clinical trial for a neuromuscular disorder treatment.

Reata said the registrational Part 2 portion of the MOXIe Phase 2 trial of omaveloxolone in patients with Friedreich's ataxia met its primary endpoint of change in the modified Friedreich's Ataxia Rating Scale relative to placebo after 48 weeks of treatment.

Patients treated with omaveloxolone showed significant, placebo-corrected improvement in mFARS after 48 weeks of treatment, the company said.

"The results of MOXIe represent a truly historic moment for the patients, families, and caregivers that comprise the Friedreich's ataxia community," said Ronald Bartek, President of the Friedreich's Ataxia Research Alliance (FARA).

Friedreich's ataxia is a debilitating and degenerative neuromuscular disease that results in loss of coordination, muscle weakness and fatigue and can ultimately lead to death. There are currently no treatments approved by the Food and Drug Administration for the disease. It affects about 22,000 globally, the company said.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Airbnb has introduced few new rules to control parties and nuisances amidst the backlash the service received after the Halloween shooting at an Airbnb rental in a San Francisco. San Francisco-based Airbnb said it is banning "open invite" parties at all of its accommodations. The company is also banning... The U.S. Food and Drug Administration has approved three generic versions of Novartis' Gilenya capsule for treating relapsing forms of multiple sclerosis. "Approving safe and effective generics so patients have more treatment options continues to be a priority for the FDA," said Janet Woodcock, director... Shares of Upscale furniture chain RH (RH) are on a tear, on the heels of an upbeat annual forecast. Today, the stock set a new all-time high of $239.88.The stock is up more than 20% from its Dec 3 opening price of $196.66, and currently trading at $237.8, and nearly three-times its 52-week low of $84.11....
Follow RTT
>