MNTA - Here's Why Momenta Jumped Higher Today
Shares of Momenta Pharmaceuticals (NASDAQ: MNTA) were up by about 15% at 2:04 p.m. EDT Monday after the biotech released positive results from its phase 2 clinical trial of nipocalimab as a treatment for generalized myasthenia gravis.
Generalized myasthenia gravis is a chronic autoimmune neuromuscular disease that causes the immune system to creates antibodies that block muscle receptors responsible for getting signals from nerve cells. Nipocalimab is designed to block those deleterious antibodies.
The clinical trial tested four different dosing regimens and found that 52% of patients treated with nipocalimab improved at least 2 points on the Myasthenia Gravis Activities of Daily Living scale for at least four consecutive weeks, compared to just 15% of patients taking a placebo. As expected, patients with larger reductions in the antibodies that cause the disease had better improvements on the scale.