New Jersey-based medical technology company Velaritas Holdings (NASDAQ:VLRX) reported positive results from two of its clinical studies, on Friday. The studies were focused on the company’s wearable insulin device, V-Go, for patients with Type 2 Diabetes.
The first study looked at a short-term evaluation of the V-Go device. It included 60 patients with Type 2 Diabetes and lasted for a period of three months.
The study found that a majority of patients showed some improvement with the device.
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V-Go: Wearable Insulin Device
Before using the V-Go device, 60% of patients experienced poor glycemic control while after the three-month period only 22% of patients still experienced poor glycemic control.
According to Patricia Wu, and Endocrinologist at the Southern California Kaiser Permanente Group and a lead author of the study, “the improvements seen in this study are encouraging and clinically relevant” for the management of Type 2 Diabetes.
The second study looked at the use of the V-Go device in combination with insulin injections to determine if this could provide a significant improvement in patients with Types 2 Diabetes.
The study included seven patients with Type 2 Diabetes who had three or more insulin injections per day and five weeks with the V-Go device.
Insulin TDD, or the dosage of insulin needed, fell by nearly 39% after the use of the V-Go.
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President and CEO of Velaritas, John Timberlake has said that the company is “excited by the results of these two new studies,” as he believes “the simple, convenient manner in which V-Go delivers basal-bolus therapy continues to prove clinically beneficial” to patients.
After the data results were released on Friday, shares of Velaritas jumped by over 15%. As of 1:10 pm EDT, the share value of the company had reached $1.65 and had already reached a high of $2.02 and a low of $1.62.
Comparatively, the company closed at a share value of $1.44 on Thursday.
Featured Image: valeritas.com
