ContraVir Pharmaceuticals stock soars after its Hepatitis B drug appears in medical journal article
ContraVir Pharmaceuticals Inc (NASDAQ:CTRV) shares popped after an article highlighting the success of its Hepatitis B treatment was published in a medical journal.
The article, written by the company and published in the journal PLOS ONE, discusses the discovery that its drug CRV431 reduced the amount of Hepatitis B DNA in mice.
The New Jersey-based company’s stock jumped nearly 34% to $9.38.
In the study, transgenic mice were treated with CRV431, an inhibitor of the cyclophilin family of proteins. Transgenic mice have been genetically modified with certain human genes.
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Mice treated with CRV431 saw a reduction in HBV DNA between 13% and 91%, depending on the dose level, compared to the control group.
“CRV431 interferes with the way that HBV hijacks our body’s molecules to amplify virus replication, which is distinct from traditional antiviral drugs such as tenofovir that bind only to HBV proteins,” CEO Robert Foster said. “Additionally, CRV431 reduced serum levels of HBsAg, an important prognostic indicator, which is typically not decreased by nucleotide drugs.”
Tenofovir is another ContraVir drug that was tested in the study, used separately and with CRV431. Mice treated with the lowest doses of both drugs saw an 80% reduction in HBV DNA levels compared to the control group.
The article is entitled, “The Cyclophilin Inhibitor CRV431 Inhibits Liver HBV DNA and HBsAg in Transgenic Mice.”
Contact Andrew Kessel at [email protected]
Follow him on Twitter @andrew_kessel
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/221915/contravir-pharmaceuticals-stock-soars-after-its-hepatitis-b-drug-appears-in-medical-journal-article-221915.html
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