Eiger BioPharmaceuticals shares climb after positive test for post-bariatric hypoglycemia

Eiger BioPharmaceuticals Inc (NASDAQ:EIGR) stock rose on Wednesday after the company reported positive results from its Phase 2 study for patients who experience dangerously low, postprandial blood glucose levels known as post-bariatric hypoglycemia (PBH).

Called the PREVENT study, the company look at the effects of avexitide for its safety and durability aspects in post-bariatric surgical patients, the company said in a statement.

PBH is an orphan disease with a high unmet medical need and no approved therapy.

Shares of Eiger climbed 9% to $11.85, having jumped 13% to a session peak at $12.29.

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“Patients experienced fewer episodes of hypoglycemia …  during both dosing regimens of avexitide as compared to (a) placebo,” the company said in a statement. 

“Avexitide was well-tolerated. There were no treatment-related serious adverse events and no participant withdrawals. Adverse events were typically mild to moderate in severity. The most common adverse events were injection site bruising, nausea, and headache, all of which occurred with lower frequency during avexitide dosing periods than during the placebo dosing period,” it added.

A total of 18 patients were enrolled and treated with two dosing regimens (once daily and twice daily) of avexitide for 28 days. All patients participated in three 14-day treatment periods, involving placebo subcutaneous (SC) injections, once-daily avexitide SC injections, and twice-daily avexitide SC injections.

Patients self-administered injections in an outpatient setting. Participants underwent in-clinic mixed meal tolerance test (MMTT) provocations with blood draws and symptom assessments following each treatment period.  

Eiger is a clinical-stage biopharmaceutical company focused on the accelerated development and commercialization of targeted therapies for rare and ultra-rare diseases. The company is based in Palo Alto, California.

Reporting by Rene Pastor, contactable on [email protected]

Story by ProactiveInvestors