PhaseBio’s Latest FDA Designation Moves It One Step Closer To Potential Approval
PhaseBio Pharmaceuticals has made substantial progress the last few weeks in terms of creating a buzz around its stock. Its phase 1 study showed that its drug PB2452 had made a sharp and quick reversal of antiplatelet effects that are observed when patients take the blood thinner drug Brilinta (Ticagrelor).
With such a strong effect, the FDA had given the drug Breakthrough Therapy Designation. The very next day, there was another set of positive news. This time around, PhaseBio had licensed out global rights for its GLP-1 analogue drug PB1023 to ImmunoForge. I believe that PhaseBio is on track to have a profound effect of potentially enhancing many other products, using its elastin-like polypeptide technology platform.
Breakthrough Therapy Designation Excites Investors
The FDA gave the drug PB2452, Breakthrough Designation based on positive phase 1 results that were achieved back in March of 2019. The phase 1 study showed that when patients received intravenous infusion of PB2452, they were able to see an immediate effect and sustained reversal of ticagrelor’s antiplatelet effects.
[Originally posted by Seeking Alpha — April 17, 2019]