AVTE - Aerovate climbs over 20% after announcing trial initiation

Aerovate Therapeutics (AVTE +21.1%) has added more than a fifth in value on below-average volume after the biotech marked a key milestone in its post-IPO operations with the start of a clinical trial for its only product candidate, AV-101. The Phase 2b/Phase 3 IMPAHCT trial is designed to evaluate AV-101 (dry powder inhaled imatinib) in adults with Pulmonary Arterial Hypertension (PAH), Boston, Massachusetts-based company said in a pre-market press release Wednesday. “….If AV-101 can deliver improvements for patients with fewer of the systemic adverse events associated with oral imatinib in PAH, it could represent a real advancement for patients,” Dr. Nicholas Hill, Chair of the IMPAHCT clinical advisory board, remarked. Topline data from the Phase 2b stage of the study is expected in mid-2023. Meanwhile, on Wall Street, all four analysts covering Aerovate (NASDAQ:AVTE) have issued Very Bullish recommendations on its stock.

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Aerovate climbs over 20% after announcing trial initiation