PhaseBio Pharmaceuticals Inc. (PHAS) stock prices were down by 2.11% as of the market closing on September 3rd, 2021. This brought the price per share down to USD$3.25 at the end of the trading day before the long weekend.
PHAS stock’s Phase 3 REVERSE-IT Trial
August 2021 saw PHAS stock announce the completion of the enrollment of its first 143 patients in the pivotal Phase 3 REVERSE-IT trial. The trial is for the company’s lead product candidate, bentracimab. 138 of the total patients enrolled required urgent surgery or an invasive procedure, with 5 patients reporting uncontrolled major or life-threatening bleeding. The clinical study is forecasted to enroll roughly 200 major bleeding or urgent surgery patients across global sits in the United States, Canada, the European Union, and China.
PHAS Stock’s Phase 2b Bentracimab Trial
PHAS stock announced the completion of enrollment in its Phase 2b trial of bentracimab in the same month. The randomized, double-blind, placebo-controlled trial enrolled 200 healthy older and elderly subjects on dual antiplatelet therapy of ticagrelor and low-dose aspirin. 150 of the total patients were randomized to receive the treatment, with reversal of the antiplatelet effects of ticagrelor. This primary endpoint for the trial was measured by the VerifyNow PRUTest biomarker.
Chinese Approval of Bentracimab
The company concurrently announced the approval of an Investigational New Drug application for bentracimab to the Center for Drug Evaluation of the China National Medical Products Administration. This move was executed in collaboration with the company’s developmental partner, SFJ Pharmaceuticals. The partners expect enrolling the first patients across sites in China by later 2021. This development has been funded by collaborative financing activity in January of 2020.
EU Licensing Agreement with Alfasigma
June 2021 saw PHAS stock announce an exclusive licensing agreement with Alfasigma for the commercialization of bentracimab. As per the agreement, the company will receive a USD$20 million upfront payment. This will be followed up by up to USD$25 million in pre-revenue regulatory milestones that the company will be eligible for, as well as up to USD$190 million in payments contingent upon the achievement of certain sales milestones.
Future Outlook for PHAS Stock
The company reported a promising quarter, consolidated by its financial reports for Q2 2021. PHAS stock is poised to capitalize on the opportunities afforded to it as a result of its quarterly developments. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value.
