Bellerophon Therapeutics Inc (NASDAQ:BLPH)
Shares of Bellerophon Therapeutics Inc (NASDAQ:BLPH) jumped 4.42% after the firm announced positive results in a mid-stage trial of INOpulse, a novel treatment for pulmonary hypertension patients with chronic obstructive disease PH-COPD. Clinical trial results indicate that INOpulse inhaled nitric oxide met its primary and secondary trial endpoints.
Positive INOpulse Trial Results
Prior to the positive clinical trial results, Bellerophon Therapeutics Inc (NASDAQ:BLPH) had been trading in a range from highs of $1.98 a share to lows of $1.00 a share. Tuesday’s price action saw the stock rally to highs of $1.25 a share before retreating to the $1.18 mark. The stock faces immediate resistance at the $1.60 a share mark above which it could surge to this year’s high of $1.98 a share.
Positive INOpulse trial results has helped strengthen investor confidence on the stock especially after the company reported second quarter earnings that failed to meet expectations.
INOpulse inhaled nitric oxide demonstrated significant improvement in six-minute walking distance and blood vessel volume in the Phase 2 trial. The therapy was also well tolerated with no safety concerns in all the test subjects.
“Collectively, these Phase 2 data demonstrate the promising potential of INOpulse to safely deliver pulsatile nitric oxide in a targeted manner to achieve medically and statistically significant improvements in exercise capacity and hemodynamics,” said Dr. Raymond L. Benza of the Cardiovascular Institute at Allegheny General Hospital.
The positive Phase 2 trial results builds on previous acute studies that showed INOpulse has the potential to act as a first-in-class therapy. Bellerophon Therapeutics Inc (NASDAQ:BLPH) CEO, Fabian Tenenbaum, believes the therapy has the potential to provide targeted vasodilation to ventilated areas of the lungs. The executive also remains confident on the therapy becoming an effective treatment for the more than 700,000 PH-COPD patients in the U.S
Bellerophon Therapeutics Inc (NASDAQ:BLPH) is currently conducting phase 3 trial on INOpulse as it tries to investigate its ability to act as a novel treatment for Pulmonary Arterial Hypertension. Trial results on the ongoing study should be out sometime next year.
Development on the use of INOpulse to treat various cardiovascular conditions has helped shrug off investor concerns especially after Bellerophon Therapeutics Inc (NASDAQ:BLPH) posted a (-$3.9) million Q2 net loss.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.