ResTORbio's stocks rockets on positive trial results, just as post-IPO lock up expires [MarketWatch]
RESTORBIO (TORC)
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Source: MarketWatch
ResTORbio's stocks rockets on positive trial results, just as post-IPO lock up expires Shares of resTORbio Inc. TORC, +82.91% nearly tripled in premarket trade Wednesday, after the biopharmaceutical company announced positive results from its dose-ranging phase 2b trial of its treatment for respiratory tract infections (RTIs). The company said RTB101 demonstrated a statistically significant and clinically meaningful reduction in the percentage of patients with one or more RTIs during the treatment period, the primary endpoint of the study with the 10 mg once-daily dose, while RTB101 10 mg in combination with everolimus 0.1 mg didn't meet the primary endpoint. "This Phase 2b has successfully defined a dose, RTB101 10 mg once daily, to be evaluated in future pivotal studies," said Chief Medical Officer Joan Mannick. The stock, which went public in January, rocketed 169% ahead of the open, to trade about 60% above the initial public offering price of $15. The rally came at a good time
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