Motif Bio plc (LON: MTFB) shares ticked up on Wednesday, following its positive set of topline results.
The clinical stage biopharmaceutical company which specialises in developing new forms of antibiotics, announced positive topline results from REVIVE-2.
REVIVE-2 is a global Phase 3 clinical trial evaluating the investigational drug candidate iclaprim in patients with acute bacterial skin and skin structure infections (ABSSSI).
Graham Lumsden, Chief Executive Officer of Motif Bio commented:
“With the positive results announced today from REVIVE-2, we have now successfully completed the two required Phase 3 trials in ABSSSI and plan to submit an NDA to the U.S. FDA by the end of the first quarter of 2018.”
He added: “This is a testament to the incredible efforts of our team at Motif who have worked tirelessly to get us to this stage. We believe that these results validate our belief in iclaprim as a potential new antibiotic candidate for patients with serious and life-threatening infections. I thank the patients and clinicians who participated in this important study.”
The company noted that the novel antibiotic could prove an option for many ABSSSI patients who may also have kidney disease. With an estimation of up to 26 percent of the 3.6 million ABSSSI patients hospitalised annually with kidney disease, Iclaprim may prove a viable alternative.
Alongside its Iclaprim trials, Motif is in discussions with pharmaceutical companies and universities to develop a series of innovative antibiotics targeting Gram positive and Gram negative bacteria.
Back in September, the company reported its half-year results for 2017, announcing the raising of $23.7 million of funds, after considering $1.7 million of issuance costs, from the issuance of 66,666,667 new shares at 30 pence per share.
For the period, the company revealed net loss for the six months ended June 30, 2017 was $29.7 million and $14.2 million for 2016.
Shares in Motif Bio plc are up 39.86 percent currently, as of 11.08AM (GMT).