(CercleFinance.com) – Medincell soars by more than 13% Thursday morning on the Paris Stock Exchange following yesterday’s announcement of the success of its clinical trial in the treatment of schizophrenia.
With this increase, the share of the biopharmaceutical company marks the second largest increase on the Parisian market, which allows it to increase its market capitalization by 50 million euros, which now stands at more than 482.5 million euros. euros.
The listing of the company specializing in long-acting injectable drugs was suspended yesterday morning just before the publication of the results of its phase 3 study, conducted with the Israeli Teva.
The study confirmed the potential of its proprietary BEPO technology, which controls the release of a drug at a therapeutic level over several days, even weeks or months from a single injection.
The study, which aimed to measure the effectiveness of a monthly long-acting subcutaneous injection of olanzapine, an antipsychotic from Teva, met its primary endpoint in all groups compared to the placebo group.
The Israeli generic and its French partner even report ‘remarkable’ reductions from a clinical point of view and statistically significant in the total score on the positive and negative symptoms scale (PANSS), an assessment tool widely used for gauge the severity of schizophrenia symptoms.
There are currently no options for treating schizophrenia with long-acting olanzapine without the risk of post-injection delirium/sedation syndrome (PDSS).
As such, the development of new innovative long-acting therapeutic options could better meet the needs of these patients, who often experience episodes of relapse.
Teva and Medincell say additional efficacy and safety results from the phase 3 study are expected to be presented at a scientific conference later this year.
An estimated 3.5 million people are currently diagnosed with schizophrenia in the United States alone.
For the record, Medincell also formalized last month a strategic partnership with the American group AbbVie, representing a potential of 1.9 billion dollars.
The licensing agreement covers the development and commercialization of up to six products in different therapeutic areas and target indications from AbbVie, known for its lead rheumatoid arthritis drug Humira.