Lipocine (NASDAQ:LPCN) stock is rising higher on Thursday after the company released positive results from a Phase 2 clinical trial.
That trial covers the use of LPCN 1148 as a treatment for patients suffering from cirrhosis. The big news here is that the study met its primary endpoint of “increased L3 skeletal muscle index” compared to a placebo.
To go along with that, Lipocine notes that more patients taking LPCN 1148 reported symptom improvement when compared to those taking a placebo. Also, the oral drug was well tolerated with adverse events and severities being similar to those seen in the placebo group.
Dr. Mahesh Patel, President and CEO of Lipocine, said the following about the clinical trial results:
“We are delighted with the positive results from our Phase 2 study […] Managing cirrhosis is a significant unmet medical need with a strong pharmaco-economic rationale. We believe LPCN 1148 is a compelling development opportunity; if approved, we believe it has potential to be the standard of care in managing advanced cirrhosis.”
What’s Next for LPCN Stock
Lipocine says it intends to meet with the U.S. Food and Drug Administration (FDA) to discuss its latest clinical trial results. The goal of that meeting would be to set a pathway for a New Drug Application (NDA) for LPCN 1148.
As for this morning, shares of LPCN stock are experiencing heavy trading. This has some 2.7 million shares changing hands as of this writing. For the record, its daily average trading volume is about 27,000 shares.
LPCN stock is up 31.9% as of Thursday morning.
Investors looking for more of the most recent stock market news are in luck!
We’ve got all of the latest stock market news that traders need to know about on Thursday! Among that is why shares of Celestica (NYSE:CLS) stock are up, the biggest pre-market stock movers this morning and more. All of that news is ready to go at the links below!
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On the date of publication, William White did not hold (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.
