CNCT - Connect Bio jumps 17% on long-term data for ulcerative colitis candidate
2023-06-02 10:07:42 ET
Connect Biopharma ( NASDAQ: CNTB ) added ~17% in the morning hours Friday after announcing long-term data from its Phase 2 trial for ulcerative colitis candidate icanbelimod, previously known as CBP-307.
Citing data from a maintenance period in the trial known as CBP-307CN002, Connect ( OTCPK:CNCT ) said that 80% (8/10) of patients who achieved clinical remission at the end of the 12-week induction Phase sustained response through Week 48.
Meanwhile, 67% of patients who completed the study through the 36-week maintenance period achieved clinical remission. 57% of those who indicated clinical response at the end of the induction phase achieved clinical remission at the end of the maintenance phase.
48-week data from the trial also showed that the safety profile of the oral therapy was in line with findings from the induction phase.
In May 2022, Connect ( CNTB ) shares plunged after topline data indicated that the placebo-controlled trial did not meet the primary endpoint with statistical significance.
More on Connect
- Connect Biopharma delays pivotal study for lead candidate
- Connect Biopharma: A Last Hurrah From CBP-307
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Connect Bio jumps 17% on long-term data for ulcerative colitis candidate