Proactive Investors - Run By Investors For Investors

ContraVir Pharmaceuticals Inc’s drug study design impresses Maxim analysts

Its drug CRV431 is being developed to treat liver tumors in patients with hepatitis B
Scientist
Maxim analysts reiterated a Hold rating following the FDA's decision

ContraVir Pharmaceuticals Inc (NASDAQ:CTRV) announced that it will begin its first clinical studies for its drug CRV431 after the US Food and Drug Administration accepts its Investigational New Drug application.

Clinical development will begin on CRV431, which is intended to reduce the size of liver tumors in patients with hepatitis B by inhibiting cyclophilin isomerase activity. Viruses use cyclophilin to replicate themselves.

READ: ContraVir Pharmaceuticals surges on positive results for its liver cancer treatment

Hepatocellular carcinoma is the most common type of primary liver cancer in people and the leading cause of death in people with cirrhosis.

“The FDA’s approval of our development strategy in accelerating the clinical development of CRV431 allows us to move into patient trials in an expedited manner,” said CEO James Sapirstein in a press release.

The partially-blind, placebo-controlled study will be conducted in the U.S. with participation from hepatitis B patients.

Study design is key

Maxim analysts viewed the FDA approval as a pathway to an accelerated timeline.

The trial is set up in three parts and will test healthy subjects as well as patients with hepatitis B. This design may eliminate a need for separate single drug studies and the company can instead move straight to combination studies.

Maxim analysts maintained a Hold rating on the biotech.

Shares of the New Jersey-based company were up more than 4% to US$1.51 Thursday afternoon after jumping as high as 15% in early trading.

--Updated to include analyst note

View full CTRV profile View Profile

ContraVir Pharmaceuticals Timeline

Related Articles

Kazakhstan
November 20 2018
Borko Moric will succeed Parilla as chief executive officer. Bojan Moric will become the company's chief operations officer
chrome pipes
June 20 2018
Another change recently was for Tharisa to take over the running of the mine, which involved it buying the fleet from its contractor
Hong Kong harbour
September 17 2018
The transition of the business through the diversification of legacy assets and investing in new opportunities in Asia is well underway, said chairman John Croft
Copyright © Proactiveinvestors.com, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use