Vitae Pharmaceuticals Inc (VTAE) saw its stock skyrocket on Thursday on trial results from its new psoriatic drug.
The new psoriatic drug tested by Vitae Pharma in clinical trials is currently identified as VTP-43742. It completed a phase 2a clinical trial that lasted for four weeks and included patients with varying degrees of psoriasis.
The study included a placebo control group and two other groups that took 350 mg and 700 mg doses of VTP-43742. Over the four weeks, the 350 mg group saw its Psoriasis Area Severity Index (PASI) score decrease by 24% when compared to the placebo group. The 700 mg group saw a 30% reduction in its PASI score.
Vitae Pharma also noted that PASI reduction accelerated more during the last two weeks of the trial when compared to the first two weeks. This could mean that further reduction is possible for patients that take the medicine for longer periods of time.
Vitae Pharma is planning a 16 week trial for the second half of 2016 to further test VTP-43742.
VTAE shares were up 84% as of Thursday morning.
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