(CercleFinance.com) – Valbiotis gains nearly 18% in Paris, while Invest Securities confirmed its buy rating on the stock this morning with a price target raised from 10.3 to 12.3 euros
Valbiotis is buoyed by its announcement last night evoking the ‘broad success’ of a Phase II/III clinical study for a treatment against diabetes. This 3-year ‘clinical adventure’ achieved the objective on the main endpoint, i.e. the reduction in fasting blood sugar, ‘with strong statistical significance’, underlines Invest.
Despite the lack of comprehensive data (the full report on the data set is expected in the summer), the success of the study is very positive and will trigger a milestone payment of 4 million Swiss francs from Nestlé Health Science (NHS) under the Global Strategic Partnership.
‘This clinical success significantly reinforces the credibility of the group and validates the strategy’, emphasizes Invest Securities.
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