Home Top Movers Histogen Inc. (HSTO) stock plunged during pre-market trading. What’s driving it low?

Histogen Inc. (HSTO) stock plunged during pre-market trading. What’s driving it low?

Histogen Inc. (NASDAQ: HSTO) stock gained by 16.16% at last close whereas the HSTO stock price declines by 2.73% in the pre-market trading. Histogen Inc. is a clinical-stage pharmaceuticals business focusing on creating potentially first-in-class restorative medicines that activate the body’s inherent repair and maintenance processes.

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Current Update

HSTO released the top-line findings of HSTO’s Phase 1 trial of emricasan in mild symptomatic COVID-19 patients to assess safety, tolerability, and preliminary effectiveness. In comparison to the placebo, emricasan was shown to be safe and well tolerated over the 14-day dosing period and at the 45-day follow-up, with no major side events reported. At day 7, patients who finished emricasan treatment experienced a full remission of the symptoms most often associated with moderate COVID-19, such as cough, headache, and fatigue, which lasted until day 45. COVID-19 symptom remission was not observed in patients in the placebo group who completed the study until day 45.

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In addition, a number of critical observations on clinical outcomes, laboratory results, and drug target-related biomarkers were made. Individuals in the active medication group had positive changes in their caspase biomarkers, but patients in the placebo group remained to exhibit COVID-19-related symptoms and laboratory results.

Official Statements

Raavi Gupta, M.D. Associate Professor and the Principal Investigator at SUNY Downstate Health Sciences University said that the safety and potential therapeutic value of emricasan in the treatment of mild symptomatic individuals are highlighted by findings from a Phase 1 trial conducted in an outpatient environment.

Richard W. Pascoe, Histogen’s President, and Chief Executive Officer commented,

These excellent findings support emricasan’s substantial clinical safety record and clearly imply that it might be developed as a therapeutic therapy for mild to moderate COVID-19 and other viral inflammatory disorders. HSTO is excited to collaborate with their Amerimmune colleagues as they define a strategic route for emricasan’s clinical development choices and partnering prospects.

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Dr. Oral Alpan, M.D. Chief Executive Officer of Amerimmune LLC commented,

The results revealed that the emricasan group had full and early remission of COVID-19-related symptoms, whereas the placebo group had symptoms that persisted. But, it offered significant insight into the illness process, which will be crucial in the development of COVID-19 treatment alternatives. They’re looking forward to collaborating with Histogen to bring Amerimmune’s skills to the emricasan research program as an example of how physician-owned diagnostic laboratories may be the source of medical discoveries and actively engage in the development of innovative treatments.

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