STSA - Satsuma stock surges on migraine treatment development plan update

Satsuma Pharmaceuticals (STSA) shares jump nearly 25% premarket after the company announced plans of initiating a phase 3 trial for its STS101 (dihydroergotamine ((DHE)) nasal powder) migraine treatment in mid-2021, with topline results expected in the second half of 2022.The new Phase 3 trial takes into account findings from the EMERGE pivotal study in which STS101 showed numerical differences in favor of STS101 5.2 mg and 3.9 mg versus placebo.However, the treatment but did not achieve statistical significance versus placebo on the co-primary endpoints of freedom from pain and most bothersome symptom at two hours post-administration, the company said.The company plans to explore dose strengths greater than 5.2 mg by conducting a Phase 1 trial in Q2 2021 to evaluate the pharmacokinetics, safety, and tolerability of STS101 5.2 mg and two higher dose strengths.Satsuma has also entered into a securities purchase agreement with existing and new investors for an $80M private placement financing.The company believes

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Satsuma stock surges on migraine treatment development plan update