Hot Pharma stock to watch: Reata Pharmaceuticals Inc (NASDAQ: RETA)

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Reata Pharmaceuticals Inc (NASDAQ: RETA) stock has risen more than 287% in 2019 (Source: The company Phase 3 portion of the CARDINAL study of bardoxolone methyl (bardoxolone) in patients with chronic kidney disease (CKD) caused by Alport syndrome met its primary and key secondary endpoints. After 48 weeks of treatment, patients treated with bardoxolone had a statistically significant improvement compared to placebo in mean estimated glomerular filtration rate (eGFR) of 9.50 mL/min/1.73 m2 (p<0.0001). After 48 weeks of treatment and a four-week withdrawal period, the patients treated with bardoxolone had a statistically significant improvement compared to placebo in mean retained eGFR of 5.14 mL/min/1.73 m2 (p=0.0012). Bardoxolone treatment was generally reported to be well-tolerated and showed a similar safety profile to the Phase 2 portion of the CARDINAL study. Based on these positive results, and subject to discussions with regulatory authorities, the Company intended to proceed with the submission of regulatory filings for marketing approval in the United States and internationally.

Moreover, the registrational Part 2 portion of the MOXIe Phase 2 trial of omaveloxolone in patients with Friedreich’s ataxia (FA) met its primary endpoint of change in the modified Friedreich’s Ataxia Rating Scale (mFARS) relative to placebo after 48 weeks of treatment. The patients treated with omaveloxolone (150 mg/day) showed a statistically significant, placebo-corrected 2.40 point improvement in mFARS after 48 weeks of treatment (p=0.014). Omaveloxolone.

Additionally, at June 30, 2019, the company had $280.4 million in cash and cash equivalents. The company anticipate the cash-based operating expenses to continue to increase in the future as the company advance bardoxolone and omaveloxolone through ongoing and future clinical trials, scale manufacturing for registrational and validation purposes, advance other product candidates into mid- and later-stage clinical trials, expand the product candidate portfolio, increase both the research and development and administrative personnel, and plan for commercialization of the product candidates. The company had reported net loss for the six month period is driven on the back of both an increase in expenses and a decrease in revenue. Higher expenses were due to an increase in research and development expenses due to clinical, manufacturing, and medical affairs activities, and an increase in personnel expenses to support expanded development activities. The revenue to date has mainly been related to license and collaboration agreements entered into during 2009, 2010, and 2011

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