The publication of protocols for a phase 3 trial for Oxygen Biotherapeutics’ (OXBT) cardiac treatment Levosimendan sent OXBT stock surging more than 32% on Monday morning.
Oxygen Biotherapeutics said that the phase 3 trial will be conducted by Duke University’s Duke Clinical Research Institute. The randomized, double-blind study will involve an estimated 760 patients at 50 cardiac care centers across the U.S.
Protocols for the phase 3 trial have been published on clinicaltrials.gov.
Levosimendan is designed to reduce death rates among cardiac surgery patients who are vulnerable to low cardiac output syndrome (LCOS).
Between February and October OXBT stock fell by more than 80%. However, OXBT stock rallied somewhat in November before sliding modestly before the end of 2013.