Shares of Kadmon Holdings (NYSE:KDMN) are getting a boost on Thursday after the biopharmaceutical company reported positive results from a clinical trial for one of its most promising pipeline candidates, KD025. Kadmon Holdings' stock is up by 8.4% as of 1:05 p.m. today.
KD025 is being investigated as a treatment for chronic graft-versus-host disease (cGVHD), a condition that sometimes manifests itself in a patient following a stem cell transplant and for which there are few treatment options. Today, Kadmon Holdings revealed that the primary analysis of the data from a pivotal clinical trial for KD025 as a treatment for cGVHD revealed that KD025 "achieved clinically meaningful and statistically significant Overall Response Rates."
Further, Kadmon Holdings reported positive safety data from the trial; the company said that KD025 "has been well tolerated and adverse events have been consistent with those expected in the patient population." Kadmon Holdings is now looking to send KD025 to the U.S. Food and Drug Administration for review. The company said it should complete a New Drug Application for KD025 in the fourth quarter.
Kadmon Holdings has a lot riding on KD025. At the moment, the company's products aren't generating much revenue. During its latest reported quarter -- the fourth quarter of its fiscal year 2019 -- Kadmon Holdings recorded $4.4 million in revenue, the majority of which it generated from licensing arrangements and other forms of revenue.
Kadmon Holdings' net sales in that quarter came in at $256 thousand. With this backdrop in mind, it is understandable why investors are excited that Kadmon Holdings looks well on its way to strengthening its lineup. After today's bounce, shares of this pharma company are up by 4.9% year to date.