BioVie Inc. shares were up 24% to $6.75 after the company said the U.S. Food and Drug Administration has authorized the company to initiate a Phase 2 study assessing NE3107's potential pro-motoric impact in Parkinson's disease patients.
The company said the NM201 study is a double-blind, placebo-controlled, safety, tolerability, and pharmacokinetics study in Parkinson's disease participants treated with carbidopa/levodopa and NE3107 involving 40 patients.
The company has an active Phase 3 trial studying NE3107 in AD that is expected to have topline results by the end of 2022.
The company expects to initiate patient enrollment for the NM201 study before the end of 2021. Topline results are expected by the middle of 2022.
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