AzurRX Biopharma Inc. (NASDAQ: AZRX) soared 32%, trading in heavy volume after the company released promising clinical study results for the MS1819 phase II combination therapy study in cystic fibrosis patients. Over 103 million shares exchanged hands compared to the average daily trading volume of $1.5 million shares.
The company said that the combination of MS819 with the standard of care porcine-derived pancreatic enzyme replacement therapy demonstrated clinically significant improvement in patients with cystic fibrosis having severed exocrine pancreatic insufficiency. This is a condition that results in the inability to digest food or maldigestion in patients.
According to Maxim Group analysts, these findings further confirm MS1819’s potential in breaking down fat molecules ad improving maldigestion in patients with cystic fibrosis. Most importantly, it is a confirmation that failure of a previous Phase II monotherapy study resulted from formulation problems and not due to the lipase enzyme. In addition, the company indicated that it is developing a new enteric-coated microbead MS1819 formulation that will be vital in helping medication reach the small intestine. Therefore, in the coming months, AZRX is worth watching.
Market Reaction:
On Wednesday, AZRX stock soared 31.71% at $0.6944 with more than 113.23 million shares, compared to its average volume of 1.56 million shares. The stock has moved within a range of $0.6600 – 0.8569 after opening the trade at $0.7170.
