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TICKERS: PHAS

PhaseBio Shares Are on a Tear After Reporting Phase 2a Trial Results

Source:

The clinical-stage biopharmaceutical stock surged more than 30% Wednesday following a report that PB2452 caused immediate and sustained reversal of ticagrelor in older and elderly subjects.

In a press release issued September 24, PhaseBio Pharmaceuticals Inc. (PHAS:NASDAQ) reported the completion of its Phase 2a clinical trial of PB2452, stating, "PB2452 achieved immediate and sustained reversal of ticagrelor in older (ages 50-64) and elderly (ages 65-80) subjects on dual antiplatelet therapy of ticagrelor and low-dose aspirin. PB2452 was generally well tolerated, with only minor adverse events reported."

The biopharma company focuses on the development and commercialization of novel therapies to treat orphan diseases, with an initial focus on cardiopulmonary disorders. According to the chief medical officer, PB2452 may address a significant unmet need for patients by reversing the antiplatelet activity of ticagrelor in major bleeding and urgent surgery situations.

PhaseBio is also working on PB1046, which is being developed as a once-weekly novel treatment for pulmonary arterial hypertension. PB1046 is currently in a phase 2b trial.

Shares opened on Wednesday at $4.68, nearly 20% higher than the previous day's close of $3.91. As of the publishing of this article, shares reached as high as $5.24 during Wednesday trading—a 34% gain.

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