- Nabriva plans to market its new pneumonia drug Lefamulin, jointly developed with China’s Sinnovant Sciences, as XENLETA in the US.
- Lefamulin’s phase-three clinical trial, conducted among 150 Chinese adults, has shown more than 70% efficacy.
- In the March quarter of 2021, Protagenic incurred losses of US$1,206,190 against US$520,736 in the year-ago period due to an increase in R&D and general expenses.
Ireland-headquartered Nabriva Therapeutics (NASDAQ:NBRV) and Protagenic Therapeutics (NASDAQ:PTIX) have seen considerable traction in the stock markets of late. Both stocks had witnessed a record jump on May 26, 2021, after they soared nearly 50% in intra-day trade.
Let’s explore why these two pharma stocks have been in the limelight of late.
Nabriva and China’s Sinnovant Sciences had recently announced the positive results from the phase three clinical trial of their pneumonia drug Lefamulin. All the trials were conducted on Chinese adults affected by bacterial pneumonia (CABP).
Nabriva is a US$52.4 million biopharmaceutical company engaged in the research, development, and commercialization of drugs for bacterial infection.
The Lefamulin drug will be marketed as XENLETA in the US market.
A total of 125 individuals had participated in phase three of Lefamulin trial, whose success rate was more than 70%. Sinnovant also has signed a deal with Sumitomo Pharmaceuticals to develop and commercialize Lefamulin in Greater China. The companies are expecting to get approval for Lefamulin from the regulators soon.
The stock was trading at US$1.39 at the market close on Tuesday, up 0.72% from the previous closing price.
Protagenic Therapeutics (NASDAQ: PTIX)
The company develops various therapeutic interventions for various mental health issues like anxiety, depression, and addiction. The company is headquartered in New York.
It is currently conducting clinical trials for an anxiety-related drug, and it will apply for an endorsement from FDA (Food and Drug Administration) if the results come up positive.
In the March quarter of 2021, Protagenic incurred losses of US$1,206,190 against US$520,736 in the year-ago period due to an increase in R&D and general expenses.
However, it will not raise revenue soon as it has sufficient liquidity from its equity offerings in April to run its operations until the third quarter of 2023, the company said in a filing with the SEC (Securities and Exchange Commission) recently.
The stock trading flat at US$2.25at the market close on Tuesday, June 1. It rose more than 114% YTD.