Today, investors in AzurRx Biopharma (NASDAQ:AZRX) are seeing impressive gains. Indeed, AZRX stock is currently more than 30% higher today, trading on extremely heavy volume. More than 103 million shares have already traded hands, relative to an average daily volume of 1.5 million shares for this small cap biopharma play.
AzurRx is a clinical stage biopharmaceutical company with a a focus on a variety of treatments. The company produces therapeutics administered as oral non-system biologics, as well as other therapeutics for gastrointestinal (GI) and oncology-related diseases and symptoms. Additionally, AzurRx has been making headlines over the company’s trials related to a cystic fibrosis treatment.
As an early stage biopharma company, AZRX stock has been highly volatile. Shares of this company have traded between 52 cents and $2.63 per share. Today’s move above 70 cents per share takes this stock off its 52-week lows and suggests renewed investor interest in this stock.
Let’s dive into what’s driving this optimism today.
AZRX Soaring on Clinical Trial Data
Today, AzurRx reported some positive clinical trial results for its MS1819 Phase 2 combination therapy trial in cystic fibrosis patients. This trial has indicated to investors that AzurRx’s pipeline may be more solid than what was thought yesterday.
Indeed, the released results are certainly intriguing. Among the highlights are the following:
- Data from 20 patients suggested meaningful improvements in the primary efficacy endpoint, the Coefficient of Fat Absorption (CFA).
- Improvements in weight gain and other secondary endpoints were reported.
- CFA levels increased by 6.57% from baseline. Additionally, mean body weight increased by 3.75 pounds and stool weight decreased by 164 grams per day.
- These results suggest the company is on the right track with its formulation.
- Accordingly, AzurRx is now working on “developing a new enteric-coated microbead formulation” for its MS1819 drug.
On the date of publication, Chris MacDonald 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.