Rocket Pharmaceutical Inc (NASDAQ: RCKT) was a big gainer in Friday’s trading session, and closed the day with gains of 13.47%. This followed news that the company had encouraging preliminary results from its phase 1 trial for commercial-grade RP-L102. Data on this treatment was presented by Agnieszka, an assistant profess at the Stanford University School of Medicine. This data gave evidence that there was potential for the company’s commercial-grade Process in the treatment for FA. That’s according to the company CEO Gaurav Shah. The CEO also added that, the treatment at 4 to 6 months had shown early signs of bone marrow restoration and engraftment.
On top of that, patients showed stabilization even after previously recording a decline in blood cells. This provides evidence that, the treatment had the potential to become a commercial-grade product. The company also added that, a drug product was successfully made for Process B, and included commercial-grade standards that allow for consistency in drug administration to Process A patients.
According to the company’s Vice President, Jonathan Schwartz, treating FA patients before a bone marrow transplant becomes necessary can change their lives. He added that, the company’s treatment, RP-L102 had the potential to make this happen.
The company also announced that, registration for Phase 2 of process B, is in progress. The primary goal of this registration is for patients to develop bone marrow MMC-resistance. Further, the company added that it expected to take in 10 patients for the trial, with 5 from Europe and the other 5 from the U.S.
From the charts, RCKT was trading between a high of $24.42 and a low of $20.45 before closing the day at $22.37. Volumes in the day stood at 1 million.
About Rocket Pharmaceuticals Inc
Rocket Pharmaceuticals Inc is a biotech company that develops gene treatments for rare diseases. It has its headquarters in New York, New York.