Shares of Derma Sciences ($DSCI) spiked 42 percent after the biotech reported positive data for a new drug designed to treat diabetic foot wounds. And the CEO says that the study data could pave the way to a collaboration deal later this year.
The randomized, 80-patient Phase II study tested two doses of DSC127, with the high dose delivering the best results. The company reported that "54% of the diabetic wounds treated with the 0.03% dose (high dose) of DSC127 achieved 100% closure in 12 weeks or less, compared with 33% of patients receiving placebo control."
CEO Edward Quilty termed the results "transformational," adding that "we are hopeful that a Phase III study will show comparably robust results and that, in due course, DSC127 will be brought to market to alleviate the suffering of millions of patients with these debilitating and stubborn wounds." Quilty told Reuters that the drug could earn $200 million to $300 million a year after launching in 2014 or 2015.
- read the Derma release
- see the story from Reuters