Wockhardt Stocks Hit ₹398.95, a 52-Week High on Phase 3 Pneumonia Antibiotic Success

Wockhardt Stocks Hit ₹398.95, a 52-Week High on Phase 3 Pneumonia Antibiotic Success

VoM News Desk | December 11, 2023 | 06:04 PM IST | Breaking News | Follow on Google News

Wockhardt Stocks Hit ₹398.95, a 52-Week High on Phase 3 Pneumonia Antibiotic Success /Mint

Wockhardt Stocks Hit ₹398.95, a 52-Week High on Phase 3 Pneumonia Antibiotic Success

Wockhardt’s shares soared to a peak of ₹398.95 per share, marking a 52-week high on the Bombay Stock Exchange (BSE) on Monday.

This surge followed the pharmaceutical company’s announcement regarding the successful completion of its phase 3 study for an antibiotic intended to combat pneumonia.

The stock demonstrated a notable upswing, recording an impressive 18.87% increase, reaching its highest point of the year subsequent to Wockhardt’s declaration of the successful conclusion of the Phase 3 study for its macrolide antibiotic, Nafithromycin WCK 4873.

• Reserve Bank of India Cancels Paytm Payments Bank Licence, Orders Immediate Halt to Operations
• National Human Rights Commission of India Issues Notice Over Blast at Vedanta Limited Plant That Killed 25
• Karnataka Cabinet Approves 15% Internal Reservation for Scheduled Castes
• Swati Maliwal Quits AAP Amid Mass Defection to BJP, Levels Serious Allegations
• Major Blow to AAP in Rajya Sabha, 7 Rajya Sabha MPs including Raghav Chadha Join BJP

According to the company’s exchange filing, Nafithromycin, used in pneumonia treatment, exhibited efficacy and safety against resistant organisms for community use.

Wockhardt highlighted that its compound Wockhardt NCE, named ‘Nafithromycin’ (WCK 4873), underwent extensive evaluation in a multicenter, double-blind Phase 3 study with a focus on pneumonia.

This study compared Nafithromycin with Moxifloxacin, a last-resort respiratory antibiotic. Results from the Phase 3 trial were consistent with the earlier Phase 2 study in the United States and Europe, indicating that a three-day course of Nafithromycin was as effective as a seven-day regimen with Moxifloxacin.

Additionally, the study revealed sustained high lung concentration for Nafithromycin over five days, even after just three days of dosing, as demonstrated in a human lung penetration study in the United States.

Wockhardt emphasized in an official statement that the human lung exposure of Nafithromycin was 8 times higher than Azithromycin, with potency being notably higher against specific respiratory pathogens.

The company currently holds a market capitalization of ₹5,619 crore, with its shares delivering remarkable returns of 76% year-to-date.

Notably, the stock surged by an impressive 62.6% in the past month and displayed a remarkable gain of 115.25% in the last six months on the NSE.

Wockhardt Stocks Hit ₹398.95, a 52-Week High on Phase 3 Pneumonia Antibiotic Success: In case of rectification of any error in this Article, Visit on Correction Policy or Register your Query

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.