DDS - Biora rallies 30% highest since November on data for drug delivery device
- Biora Therapeutics ( NASDAQ: BIOR ), a biotech focused on oral biotherapeutics, surged ~30% on Wednesday to record the highest intraday gain since November after the company announced promising topline data from a study for its targeted therapeutics platform.
- The recently completed PM-602 was designed to evaluate the Drug Delivery System Capsule ( DDS ) in patients with ulcerative colitis in a fasted state.
- According to the data, the device was well tolerated and performed as expected in all UC patients after a single oral ingestion.
- Accurately identifying the entry into the colon, the device released a saline solution payload that included radioisotopes, leading to distribution across the entire colon in all seven patients.
- Biora ( BIOR ) plans to release further information on the study after completing the analysis and intends to submit data for publication.
- “These human studies are key steps in advancing toward our PGN-600 clinical program, and they also demonstrate the potential of the platform for localized delivery of other drugs,” Chief Executive Adi Mohanty noted.
- Biora ( BIOR ) was previously identified as Progenity.
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Biora rallies 30%, highest since November on data for drug delivery device