Shares of resTORbio Inc (NASDAQ:TORC) jumped today after the company announced via press release the results of its phase 2 clinical study. The small biotech company has the drug RTB101, which is used to treat respiratory tract infections (RTIs) in elderly patients.
RerTORbio reported in its clinical trial stats a significant reduction in RTIs in patients given 10 mg doses of RTB101 compared to the patients given a placebo. Phase 2 found that there was a 30.6% reduction in RTIs.
“This Phase 2b has successfully defined a dose, RTB101 10 mg once daily, to be evaluated in future pivotal studies. That dose led to a statistically significant decrease in the incidence of laboratory-confirmed RTIs and was well-tolerated in the high-risk elderly patients enrolled in the Phase 2b study. We have also identified patient populations that were particularly high responders,” said Joan Mannick, M.D., Co-Founder and Chief Medical Officer of resTORbio via the press release.
Mannick concludes that the trial has provided the company with a clear path to reduce RTIs in high-risk elderly patients. ResTORbio will work closely with regulatory agencies and the US Food and Drug Administration (FDA) to finalize the study and hopefully get the drug out on the market to save lives.
The study also found that there was a 68.4% reduction in RTIs among asthma patients age 65 and older and a 66.7% reduction in RTIs in patients that were 85 and older. Currently, RTIs rank as the number four cause of hospitalization in the United States and is the seventh leading cause of death to patients 65 and older.
RTIs can be especially problematic for asthma patients, so the findings of phase 2 of the trial are extremely promising.
TORC Stock Movement
According to Yahoo Finance, TORC closed the day at $9.01 a share and opened the market at $19.86, a 120.42% increase. TORC closed the day at $13.47 a share, up $4.46 (49.50%).
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