ABVC Biopharma Inc. (ABVC) stock prices surged by 29.48% some time after market trading commenced on September 1st, 2021. This brought the price per share up to USD$3.76 early on in the trading day.
ABVC Stock Submits PCT Applications
September 1st, 2021 saw ABVC stock announce the filing of new Patent Cooperation Treaty applications. The PCT applications were in connection with medicines to treat the major depressive disorder (MDD) and Attention-Deficit Hyperactivity Disorder (ADHD). The two applications describe the treatment methods of oral administrating compositions containing Radix Polygalae extract (PDC1421). Both the MDD and ADHD drugs have PDC-1421 as an active ingredient.
MDD Clinical Study
ABVC Stock recently completed a Phase 2 Part 2 clinical study for its MDD medicine. The study was a randomized, double-blind, placebo-controlled, multicenter trial and involved 60 adult patients. These patients were confirmed to have moderate to severe MDD and were treated with PDC-1421 three times a day for a period of six weeks.
Outcome of the Clinical Study
The treatment met the pre-specified primary endpoint by exhibiting a highly significant 13.2 point reduction in the Montgomery-Asberg Depression Rating Scale (MADRS) total score. This was tabulated by Intention-To-Treat (ITT) analysis and was the average over the six-week treatment period from baseline. This is comparable to a 9.2 point reduction observed in the placebo group. PDC-1421 showed a dose-dependent efficacy towards MDD by Per-Protocol analysis. This showed high doses to result in a 13.4 point reduction in MADRS total score from baseline, while a low dose resulted in a 10.4 point reduction. These numbers are comparable to the 8.6 reported in the placebo group.
Scope of ABVC Stock’s Submissions
ABVC stock is confident that its PCT filings will provide expedited entries to CPT contracting countries such as China, Japan, and the EU. This is expected to facilitate the global intellectual property protection of the company’s essential MDD and ADHD products. The PCT’s and subsequent national phase applications have the potential to extend the product’s global market exclusivity through to 2040-2041, should they be granted.
Future Outlook for ABVC Stock
The company reported a stellar quarter, topped off with its new PCT application filings for MDD and ADHD. ABVC stock is poised to allocate resources towards the expedited commercialization and proliferation of its flagship treatments. Investors are hopeful that this will translate into consistent returns on shareholder investments over the long term.
