Shares of MetaVia Inc. (MTVA) slipped over 24% on Tuesday morning after the clinical-stage biotechnology company reported positive trial results of obesity drug.
MTVA is currently trading at $1.3903, down $0.4497 or 24.4402%, on a heavy volume of 20.2 million shares, above average volume of 30 thousand, on the Nasdaq. The stock opened its trading at $1.9700 after closing Monday at $1.8400. The stock has traded between $1.2600 and $5.3000 in the past 52-week period.
MetaVia announced positive results from the 4-week multiple ascending dose (MAD) Part 2 of its Phase 1 clinical trial of DA-1726, a novel, dual oxyntomodulin (OXM) analog agonist that functions as a glucagon-like peptide-1 receptor (GLP1R) and glucagon receptor (GCGR), for the treatment of obesity.
In the 28-day, 36-subject MAD portion of the study, DA-1726 demonstrated excellent safety and tolerability, with positive clinical activity.
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