shares ahead 38% premarket
FDA has approved ContraVir Pharmaceuticals' (NASDAQ:CTRV) Investigational New Drug (IND) Application in the U.S. for its lead HBV compound, TXL for the treatment of chronic hepatitis B.
Earlier this year, ContraVir completed a Phase 1 and a Phase 2a, 28 day study in HBV-infected patients in Thailand. Having successfully achieved proof-of-concept, ContraVir intends to expand the TXL clinical program and initiate its first US-based clinical trial for TXL in Q4, pending approval by the Institutional Review Board in patients with severe renal impairment.
Tenofovir exalidex (TXL) is a highly potent prodrug of the antiviral tenofovir. Tenofovir is the active component of both Vemlidy (tenofovir alafenamide) and Viread (tenofovir disoproxil fumarate).
Shares are up 38% premarket on light volume.