Shares in vTv Therapeutics Inc.(NASDAQ:VTVT) are rocketing after the clinical stage biopharmaceutical group revealed welcome news about a Phase 3 clinical study involving Alzheimer’s disease.
The company has announced that despite not meeting its co-primary endpoints, the data from Part A of the company’s Phase 3 STEADFAST study of its medication azeliragon in people with mild Alzheimer’s disease suggests that the drug offers a significant benefit relative to a placebo in some patients after a year.
vTv Therapeutics climbed 22% to US$2.08 in afternoon trade Thursday.
The patients with Alzheimer’s who saw the most improvement took lower doses of azeliragon, with peak blood plasma concentrations of the drug of less than 7.5ng/mL.
“We are encouraged by the positive improvements in cognitive and functional outcomes relative to placebo based upon low azeliragon concentration levels,” said Steve Holcombe, chief executive of vTv Therapeutics.
Post its analysis and using data from prior trials, the company will submit a revised statistical analysis plan to the Food and Drug Administration to start the part B phase of its study. It expects to announce another set of results from its trials in June.