BELLUS Health (NASDAQ:BLU) stock is rocketing higher on Monday and it’s all thanks to data from a Phase 2b clinical trial.
This clinical trial saw it testing the effectiveness of BLU-5937 in treating refractory chronic cough. The company used 50mg and 200mg doses twice a day in patients taking part in the study. The study reached its primary endpoint of statistical significance with 24-hour cough frequency dropping 34% on a placebo-adjusted basis.
To go along with that, the company didn’t see any major adverse events during the clinical trial. Some patients suffered from taste alteration but not many and it was never enough for them to drop out of the study.
Roberto Bellini, CEO of BELLUS Health, said the following about the results sending BLU stock higher.
“We are extremely pleased with the compelling topline results from the Phase 2b SOOTHE trial which highlight BLU-5937’s best-in-class potential for the treatment of refractory chronic cough. RCC is a prevalent and growing condition that significantly impacts the quality of life of an estimated 9 million patients in the United States and 9 million patients in Europe.”
With the positive results from the clinical trial, BELLUS Health intends to move forward to Phase 3 trials. It plans to meet with the U.S. Food and Drug Administration (FDA) in 2Q 2022 to discuss its plans, which should have the trial starting in the second half of that year.
The positive news is also behind major trading activity for BLU stock today. As of this writing, more than 63 million shares of the stock are on the move. That’s a massive increase over the company’s daily average trading volume of about 1.9 million shares.
BLU stock is up 61.4% as of Monday morning.
Investors seeking more stock market news for today are in luck!
InvestorPlace has all the latest stock stories that traders need to know about today. That includes what’s happening with Petros Pharmaceuticals (NASDAQ:PTPI) and Editas Medicine (NASDAQ:EDIT), as well as this morning’s pre-market stock movers. You can find all of that at the following links!
More Monday Stock Market News
- PTPI Stock Pops on Short Squeeze Hopes: 10 Things to Know
- EDIT Stock: The Preclinical Data Sending Editas Medicine Rallying Today
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
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.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed