Calliditas up 33% on Nefecon news

9 November 2020

Swedish biotech Calliditas Therapeutics (STO: CALTX) has announced positive top-line results from Part A of the global Phase III trial NefIgArd, which investigated the effect of Nefecon (budesonide) versus placebo in patients with primary IgA nephropathy (IgAN).

Calliditas’ share price showed gains of 37% on the news as Monday’s trading day neared its end in Stockholm.

"This result brings hope to thousands of patients who today have no approved treatment alternatives"The trial met its primary objective of demonstrating a statistically-significant reduction in urine protein creatinine ratio (UPCR) or proteinuria, after nine months of treatment with 16mg of Nefecon compared to placebo, with significant continued improvement at 12 months.

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