MS1819-SD is designed to treat exocrine pancreatic insufficiency caused by chronic pancreatitis, a disease characterized by inflammation of the pancreas.
Initial data from the study shows a “very strong safety and efficacy profile”, according to the company’s press statement.
The Brooklyn-based biopharma will look into applying the drug to the treatment of cystic fibrosis as well.
“Based on these data, we believe we have the basis for initiating a Phase IIb trial of MS1819 in cystic fibrosis patients in the fall of 2018,” said Chief Medical Officer James Pennington in a statement.
The biopharma specializes in the development of non-systemic, recombinant therapies for gastrointestinal diseases. While MS1819 is its lead drug candidate, it is also conducting early-stage research into the prevention of hospital-acquired infections.
Shares jumped nearly 8% to US$3.16 in Friday morning trading.