Today’s Research Reports on Stocks to Watch: Kitov Pharma and Clearside Biomedical

NEW YORK, NY / ACCESSWIRE / June 1, 2018 / It was FDA news that sent shares of Kitov Pharma blasting off on Thursday. Shares of Clearside Biomedical sunk despite positive topline results being announced from the company’s phase II clinical trial of CLS-TA used in combination with Eylea from Regeneron Pharmaceuticals. Traders had worries over the stand alone improvement of Eylea versus the combination results.

RDI Initiates Coverage on:

Kitov Pharma Ltd.
https://rdinvesting.com/news/?ticker=KTOV

Clearside Biomedical, Inc.
https://rdinvesting.com/news/?ticker=CLSD

Kitov Pharma Ltd shares closed up nearly 41% at $3.03 on Thursday on significantly higher volume than usual. The stock traded 9.4 million shares versus an average of about 222,000 shares. The stock also hit a new high of $3.81 yesterday as Wall Street cheered the FDA approving the company’s Consensi™ for the treatment of osteoarthritis pain and hypertension. Consensi is a patent-protected combination of celecoxib, a non-steroidal anti-inflammatory drug (NSAID), and amlodipine besylate, an antihypertensive calcium channel blocker. Chief Medical Officer of the company, Dr. J. Paul Waymack, commented, “We are very pleased with Consensi™’s approval and would like to thank the members of Kitov’s team, consultants and investigators, as well as the FDA’s Division of Cardiovascular and Renal Products, for all of their support and assistance. Consensi™ provides a safe and effective combination treatment option for the millions of Americans who suffer from osteoarthritis pain and hypertension”. He added, “Now that Consensi™ has been approved for marketing, our clinical and regulatory teams will focus on leveraging their drug development expertise to advance NT219, an exciting investigational new drug candidate currently in development for various oncology indications.” The FDA-approved Consensi™ New Drug Application included the positive results from Kitov’s Phase III clinical trial.

Access RDI’s Kitov Pharma Ltd. Research Report at:
https://rdinvesting.com/news/?ticker=KTOV

Clearside Biomedical, Inc. shares closed down 32.19% on about 4 million shares traded on Thursday. The big drop was despite the biotech company announcing positive topline results from its phase II clinical trial of CLS-TA used with Regeneron Pharmaceuticals’ Eylea in patients with diabetic macular edema. The company announced yesterday that the trial had met its primary endpoint of mean improvement in best corrected visual acuity from baseline over six months as measured using the Early Treatment of Diabetic Retinopathy Trial (ETDRS) scale. Patients in the combination arm gained an average of 12.3 ETDRS letters compared to 13.5 ETDRS letters in the Elyea alone control arm (p = 0.664). CEO Daniel White remarked, “We are pleased with the topline results of this Phase 2 trial, which signals the potential utility of suprachoroidal CLS-TA to improve on the existing standard of care in DME, another sight-threatening disease like RVO and uveitis. Based on the TYBEE data, we believe suprachoroidal CLS-TA, when given together with an anti-VEGF agent, has potential to provide a more lasting response to treatment, thereby substantially lowering the treatment frequency and burden for DME patients.” So why the drop then? Traders may have been concerned over the fact that there was a control arm of patients who got Eylea alone, who gained an average of 13.5 ETDRS letters. This was more successful than the combination.

Access RDI’s Clearside Biomedical, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=CLSD

Our Actionable Research on Kitov Pharma Ltd. (NASDAQ: KTOV) and Clearside Biomedical, Inc. (NASDAQ: CLSD) can be downloaded free of charge at Research Driven Investing.

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