Stock Alert: Chiasma Up 8% On Positive Results From Acromegaly Treatment Trial

(RTTNews) - Shares of Chiasma, Inc. (CHMA) gained over 8% on Wednesday morning after reporting positive results from a late-stage trial of treatment for Acromegaly.

CHMA is currently trading at $4.37, up $0.33 or 8.17%, on the Nasdaq.

Chiasma, a biopharmaceutical company developing oral therapies for rare diseases, announced positive top-line data from its global Phase 3 non-inferiority clinical trial comparing Mycapssa to long-acting injectable somatostatin analogs in patients with acromegaly.

The study met its primary non-inferiority endpoint. 91% of patients on Mycapssa maintained insulin-like growth factor 1 response compared to compared to 100% on injectable SSAs.

The trial was designed to support a planned marketing authorization application for Mycapssa in the European Union.

Mycapssa is currently approved in the United States for long-term maintenance treatment in acromegaly patients who have responded to and tolerated treatment with injectable octreotide or lanreotide.