NAVB stock is the biggest biotech stock gainer in Tuesday’s trading session after Navidea Biopharmaceuticals Inc (NYSE:NAVB) announced positive results of the first interim analysis of its ongoing phase 2B study on rheumatoid arthritis.
When it comes to big stock movements for pharmaceutical companies, then the release of positive updates with regards to clinical studies is usually one of the most popular triggers, and that is what happened with Navidea Biopharmaceuticals this morning. Earlier this morning, the company published a press release in which it stated that the data from an important clinical study of one of its products has been positive.
The medicine in question is NAV3-31, which is meant for the treatment of active rheumatoid arthritis. The interim data released by the company from the Phase 2B clinical study revealed that medicine can provide effective control. Hence, it is not a surprise that the market is highly encouraged by the latest report released by the company.
The Chief Executive Officer of Navidea Jed Latkin spoke about the positive developments as well: “I am very pleased that the results of this interim analysis are so encouraging. It reaffirms that we are heading in the right direction with our clinical trial pipeline in rheumatoid arthritis.”
After the announcement was made about the interim data, NAVB stock rose by as much as 55% at $1.21.
More importantly, the company has also revealed that it is going to host a conference call today at 5 p.m. EDT and speak about the specific developments with regards to the Phase 2B study of NAV3-31. Investors and members of the public have been invited to dial into the conference call. A question and answer session is also going to take place after the presentation is made by the executives.
The Phase 2B study was an extremely important step for Navidea, and during the process, the company signed up as many as 30 patients for its study. It goes without saying that NAVB stock should be watched over the rest of the week and beyond.
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