Why Edgewise Therapeutics Stock Is Up 50% on Thursday

Shares of biopharma outfit Edgewise Therapeutics (NASDAQ: EWTX) soared more than 50% today, reaching a three-year high following an update on the clinical testing of its cardiac drug EDG-7500. The treatment shows promise in two related but distinct trials as a treatment for certain patients with improper bloodflow within the heart.On Thursday, Edgewise Therapeutics published data regarding the phase 1 testing of EDG-7500 as a therapy for obstructive hypertrophic cardiomyopathy, or HCM, a condition marked by thickening of the left heart ventricle wall that can cause it to work less effectively. In this particular test of healthy patients, the drug was well tolerated, but more importantly, didn't lead to lowered left ventricular ejection fraction levels. That is to say, the treatment doesn't appear to cause the inefficient bloodflow sometimes associated with some other cardiac drugs.The phase 2 CIRRUS-HCM test of EDG-7500 looked at the efficacy and tolerability of the drug given in single doses specifically as a treatment for obstructive hypertrophic cardiomyopathy. This administration also worked as hoped without leading to a meaningful drop in the aforementioned left ventricular ejection fraction levels. The CIRRUS trial further suggests the drug -- at higher doses anyway -- could potentially help prevent other forms of heart failure in select patients.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool