The Swiss-based biotechnology company ObsEva SA (NASDAQ:OBSV) has announced that it has reached the endpoints of its clinical trial with shares jumping over 25% after the announcement was made.
The company, which focuses on developing and commercializing drugs for conditions that can “compromise a woman’s reproductive health and pregnancy,” had endpoints that were meant to identify the safety and efficacy of ObsEva’s Linzagolix (OBE2109) oral drug for the treatment of pain due to endometriosis.
ObsEva Linzagolix trial yields positive results
The Phase 2b trial of Linzagolix included 327 women, recruited from 64 gynecological clinics across the US and Europe, with moderate to severe pain associated with endometriosis.
Patients were divided into several groups, with one group receiving a placebo, while the other groups received either 50-milligram, 75-milligram, 100-milligram or 200-milligram doses of Linzagolix over 28 days of treatment.
According to the company, the primary endpoint was meant to determine a reduction of at least 30% in menstrual or non-menstrual pelvic pain. The results showed that all responses were over 30%.
Patients who received the 75-milligram dose had the highest response rate of 65.1%, while the placebo had the lowest at 34.5%. The 50-milligram dose group had a 49.4% response rate while the 100-milligram had a 56.4% response rate. The 200-milligram resulted in 56.3%.
ObsEva co-founder Ernest Loumaye has said that the company believes the “data strongly support the therapeutic potential of linzagolix for improving the condition and well-being of patients suffering from endometriosis.”
ObsEva share value spike post-announcement
After the results had been released on Monday, shares of ObsEva rose over 25% to approximately $27.15 USD as of 1:40 pm EDT.
The company has been able to reach a high share value of $20.35 and a low of $17.55, after opening at $18.00.
In comparison to Monday’s values, ObsEva closed at a share value of $14.55 on Friday and was only able to reach a high of $15.01.
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