Shares rocket up as Nabriva Therapeutics touts a PhIII win for antibiotic
Two weeks after its chief medical officer resigned, sparking jitters among the more hopeful analysts following the company, Nabriva Therapeutics $NBRV announced that its key Phase III study for the antibiotic lefamulin hit the primary endpoint in proving non-inferior to moxifloxacin for community-acquired pneumonia.
The scheduled departure of CMO Elyse Seltzer at the end of this month created some uncertainty among the analysts like Leerink’s Paul Matteis, who had credited Nabriva — a Novartis spinout helmed by Colin Broom — with a 60% shot at success in this first-of-two Phase III studies, dubbed LEAP I. Those fears proved unfounded, which ignited a big rally for its shares. Nabriva’s stock soared 100% in pre-market trading today.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.