RAPT Therapeutics (NASDAQ:RAPT) stock is rocketing higher on Monday thanks to positive results from a recent clinical trial of RPT193.
RPT193 is the company’s treatment in development designed to treat patients suffering from moderate-to-severe atopic dermatitis. The recent results come from a Phase 1b clinical trial of the drug.
The clinical trial included a total of 31 patients suffering from moderate-to-severe atopic dermatitis. After four weeks of treatment, patients taking RPT193 saw an improvement of 36.3% on the Eczema Area and Severity Index score. For comparison, placebo improvement was 17%.
RAPT Therapeutics notes that the positive news continues beyond just the treatment period. In the two weeks following the four weeks of treatments, further improvements were seen. That includes patients taking RPT193 reporting a 53.2% improvement. For perspective, patients in the placebo group only reported a 9.6% improvement.
Brian Wong, M.D., Ph.D., president and CEO of RAPT Therapeutics, said this about the positive news boosting the company’s stock higher today.
“These data strongly support the potential of RPT193 as a safe, once-daily, oral treatment for patients with atopic dermatitis which would be an attractive therapeutic alternative ahead of injectable drugs. We look forward to advancing RPT193 to a Phase 2b trial in atopic dermatitis and a Phase 2a trial in asthma.”
In addition to this, RAPT Therapeutics notes there were no severe adverse events connected to the study. The adverse events that did occur were only mild or moderate in nature.
RAPT stock was up 111.1% as of Monday afternoon.
Investors looking for more hot stock market news from Monday can keep reading.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.