(CercleFinance.com) – Theranexus shares recorded one of the strongest increases on the Paris market on Wednesday morning in sustained volumes after the announcement of ‘promising’ results from a study into the juvenile form of Batten disease.
Shortly before 12:00 p.m., at 10:40 a.m., the shares of the Lyon biopharmaceutical company climbed by almost 10% in volumes representing more than 17 times their daily average for the last four trading sessions.
Data collected after 18 months in the phase 1/2 trial showed the potential of its Batten-1, as no notable progression of motor symptoms was seen in six patients aged over 17 years.
For Mathieu Charvériat, the general director of Theranexus, this stabilization of the progression of motor symptoms constitutes a very encouraging signal for patients and their families.
The company now says it is considering different financing options in order to have adequate resources to launch a pivotal phase 3 trial, the design of which has already been validated by the American FDA and the European EMA.
The juvenile form of Batten disease is a rare and fatal genetic disorder of the nervous system for which there is currently no treatment.