FMP
Sep 11, 2023 4:22 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
Image credit: FMP
Crinetics Pharmaceuticals (NASDAQ:CRNX) witnessed a significant 66% surge in its stock price intra-day today following the announcement of positive trial results for its experimental treatment targeting a rare hormonal disease.
The San Diego-based company reported that its oral, once-daily drug, paltusotine, successfully met the primary and all secondary endpoints in a Phase 3 study, which was randomized and placebo-controlled.
Notably, 83% of patients treated with paltusotine maintained their growth-factor levels, a stark contrast to the 4% in the placebo group. This outcome exceeded the expectations of around 70% of patients maintaining stable growth-factor levels.
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