Shares of biotechnology company Bionomics experienced a significant surge in early trading on Thursday following the announcement of successful results from their Phase 2b study of their lead drug candidate for post-traumatic stress disorder (PTSD).
Promising Results and Market Reaction
The Australia-based company’s shares soared almost four-fold to $3.89 as investors reacted positively to the news.
Positive Outcomes in Primary Endpoint
Bionomics revealed that their Phase 2b study met its primary endpoint, demonstrating that treatment with BNC210 resulted in a statistically significant reduction in total symptom severity of PTSD after 12 weeks. PTSD is a psychiatric condition that arises in individuals who have experienced or witnessed a traumatic event, series of events, or set of circumstances.
Secondary Endpoints also Show Improvement
In addition to the positive primary outcome, BNC210 also showed statistically significant improvement in secondary endpoints relating to depressive symptoms and sleep. This further reinforces the potential benefits of the drug candidate.
Future Steps for BNC210
Bionomics expressed their intention to engage with the U.S. Food and Drug Administration (FDA) to discuss plans for advancing BNC210 into registrational studies for PTSD. Furthermore, the company held a successful Phase 3-enabling meeting with the FDA regarding the advancement of BNC210 into registrational studies for the acute treatment of social anxiety disorder.
These recent developments highlight the potential of BNC210 in addressing various psychiatric conditions, and Bionomics remains focused on progressing their promising drug candidate.