ContraVir Pharmaceuticals Inc (NASDAQ:CTRV) is having an incredible day in the market today, and for good reason. Yesterday, the company reported interim data surrounding CMX157. Today, we’ll talk about the data, what we’re seeing from the stock, and what we can expect to see from CTRV ahead.
CTRV Reports Positive Interim Data For CMX157
CMX157 is a treatment that ContraVir Pharmaceuticals has been working on for some time. The drug is designed for the treatment of HBV infections and is currently in the midst of an ongoing Phase 2a clinical trial. In the trial, the company is comparing the treatment to tenofovir disoproxil fumarate (TDF, also branded by Gilead as Viread) in chronically infected Hepatitis B patients.
In their announcement today, ContraVir Pharmaceuticals Inc (NASDAQ:CTRV) said that patients have successfully completed both dosages 5 mg and 10 mg. The company said that on average, patients treated with CMX 157 showed an average of 99% reduction in HBV viral load compared to baseline.
Another very important factor here was the level of active tenofovir in the blood. Levels too high will generally lead to off-target side effects. So naturally, the goal here was to show that active tenofovir in the bloodstream is relatively low following treatment. In their press release, CTRV announced that the results showed significant improvement over Viread by achieving similar antiviral activity while significantly reducing systemic tenofovir exposure. In a statement, James Sapirstein, CEO at ContraVir Pharmaceuticals had the following to offer…
“We are pleased and excited with these clinical results, as they demonstrate CMX157’s great potential in our ongoing effort to develop a cure for HBV… The significant viral load reduction and favorable safety at this low does of CMX157 speaks to the unique liver-targeting mechanism of our drug, which concentrates the antiviral activity of tenofovir in the liver, enabling anti-HBV efficacy at lower doses and minimal drug exposure to other tissues. We believe, based on the data that are being generated, that CMX157 has great potential as a safe and highly potent backbone of combination therapy against HBV.”
How The Stock Reacted To The News
One of the first things that we learn as investors is that the news moves the market. In this particular case, the news with regard to ContraVir Pharmaceuticals was overwhelmingly positive. For some reason, we’re seeing a delayed reaction, but that’s alright. Today, the stock is seeing the gains it deserves. Currently (12:43), CTRV is trading at $1.79 per share after a gain of $0.43 per share or 31.84% thus far today.
What We Can Expect To See Moving Forward
Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from ContraVir Pharmaceuticals Inc (NASDAQ:CTRV). At the end of the day, the company is showing that its treatment works, and perhaps more importantly, is safer than one of the leading treatments on the market. That’s incredible news. After all, if they can compete in the HBV space, profits are surely coming down the line. All in all, I’m expecting to see gains out of CTRV.
Note: This article is written by Joshua Rodriguez and originally published at CNA Finance.