AzurRx BioPharma Inc. (AZRX) shares gained 3.06% to trade at $0.87 in after-market on Friday, April 23, 2021. Earlier, AZRX’s stock gained 0.98% to close Friday’s session at $0.84. AZRX shares have surged 44.04% over the last 12 months, and they have moved up by 6.35% in the past week. Over the past three months, the stock has lost54.12%, while over the past six months, it has added 2.33%.
Let’s check out its recent news.
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CEO letter to AZRX shareholders
On April 15, 2021, the President, Chief Executive Officer, and Chairman of AzurRx BioPharma, Inc issued a letter to its shareholders explaining the company’s corporate and clinical achievements during the first quarter of 2021.
Agreement with PPD to manage Clinical trial
On April 13, 2021, AzurRx BioPharma Inc. signed an agreement with PPD Inc to carry out its Phase 1b/2a clinical trial evaluating proprietary formulations of micronized niclosamide for grade 1 colitis and diarrhea in oncology patients receiving treatment with immune checkpoint inhibitors (ICIs).
Commencing Phase 2 RESERVOIR trial
On April 6, 2021, AzurRx BioPharma Inc commenced the Phase 2 RESERVOIR trial evaluating oral formulation of micronized niclosamide (FW-1022) for the treatment of COVID-19 related gastrointestinal (GI) infections. The data will be available in Q 1 2022.
The Phase 2 trial is to examine the safety and efficacy of FW-1022 and the objectives of the trial are to confirm the safety of niclosamide and demonstrate efficacy in clearing the SARS-CoV-2 virus from the GI tract.
Phase 2 clinical trial results of MS1819
On March 31, 2021, AzurRx BioPharma Inc reported results from its Phase 2b OPTION 2 clinical trial investigating MS1819 in cystic fibrosis (CF) patients with exocrine pancreatic insufficiency (EPI).
MS1819 study did not consistently meet the primary efficacy endpoint but it demonstrated to be safe and well-tolerated.
enteric capsule formulation is the leading cause of the drug’s uneven efficacy performance lies with the enteric capsule formulation according to the company.
The registered direct offering of AZRX common stock
On March 08, 2021, AzurRx BioPharma Inc announced the sale of 7,858,548 shares of common stock and warrants at $1.2725 per share and accompanying warrant in a registered direct offering priced at the market under Nasdaq rules.
The warrants have an exercise price of $1.21 per share and will expire five years following the date of issuance.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
There is no prominent news in the last week and AZRX is still testing its lead candidate. There was no such recent activity behind its positive trend on Friday and it’s hard to say how it will start the new trading week on Monday.