Reata Pharmaceuticals Reports Positive Phase 2 Results From Two Clinical Trials
On July 23, Reata Pharmaceuticals, Inc. (RETA) announced results from two Phase 2 clinical trials of bardoxolone in patients with chronic kidney disease. The one-year results for the Phase 2 portion of CARDINAL, a study of bardoxolone in patients with chronic kidney disease due to Alport syndrome, found that patients had no drug-related negative side effects and had significantly higher estimated glomerular filtration rates (eGFR). Reata also reported final results for the Phase 2 autosomal dominant polycystic kidney disease (ADPKD) cohort of PHOENIX. Patients had no drug-related negative side effects and had significantly higher estimated glomerular filtration rates (eGFR).
Sonal received the news and sent an alert at 6:45 am. The next trade took place at the market open for $51.12. Reata’s stock price soared throughout the day before closing at $76.55 for a gain of 49.75% on the event day.
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