What happened
Shares of the unique biotech DBV Technologies (DBVT 9.17%) surged nearly 20% higher on Wednesday, far outpacing many peer stocks. That's because the company had some very encouraging news to impart about its key pipeline drug.
So what
DBV is developing a patch treatment for peanut allergies called Viaskin Peanut, and on Wednesday, it published an update about the clinical testing of this product.
DBV said that the results of the latest Viaskin Peanut phase 3 trial -- on children 1 to 3 years old -- indicate that 67% of respondents "demonstrated a statistically significant treatment effect" from the patch. This compared favorably to the nearly 34% of patients administered a placebo. The biotech added that the safety results were "generally consistent" with those of prior clinical trials in children aged four and older.
Not only are the results encouraging and significant, but they were also produced in an age group that seems to be ideal for treatment.
In its press release, DBV quoted the chairman of its scientific advisory board Hugh Sampson as saying that "Most peanut-allergic children are diagnosed between 1 to 3 years of age; however, there are currently no FDA-approved therapies for this age group. Furthermore, there is growing evidence on the benefits of treatment from a younger age."
Now what
This represents a positive reversal of fortune for DBV. Viaskin Peanut was rejected by the Food and Drug Administration, mainly on concerns about how the patch's contents were absorbed by the patient. As Viaskin in various forms is by far the biotech company's most significant product, these new clinical trial results are more than encouraging.
