Motif shares rose yesterday from 36.75p to 44.5p after the company revealed its lead drug iclaprim, a next generation antibiotic, successfully negotiated a crucial final-stage clinical study, boosting Amphion’s shares, which climbed from 1.5p to 1.8p.
“Yesterday, Motif Bio announced the top-line data for REVIVE-2, the second of the two trials, which showed that iclaprim achieved the primary endpoint of non-inferiority compared to vancomycin, the current standard of care, at the early time point (ETP), and also achieved non-inferiority at the test of cure endpoint, 7 to 14 days after study drug discontinuation,” observed Richard Morgan, chief executive of intellectual property commercialisation specialist Amphion.
“Combined with the positive top-line data for REVIVE-1, as announced 18 April 2017, Motif Bio is on track to submit a New Drug Application to the US FDA for iclaprim in the first quarter of 2018.
READ: Amphion Innovations sees net asset value surge in first half thanks to recovery in Motif Bio shares
“Amphion owns 14.1% of Motif Bio, and we continue to believe that Motif Bio is not fully valued compared to other comparable antibiotic companies at the same stage of development," he added.
Shares in Amphion were up 11% at 2.08p in the first hour of trading on Thursday.