(RTTNews) - Shares of Roivant Sciences Ltd. (ROIV) are climbing about 17 percent on Friday morning trading over the announcement of positive results from the Phase 2 study of brepocitinib in cutaneous sarcoidosis.
Currently, ROIV is trading at $24.92, up 17.88 percent, over the previous close of 21.14 on the Nasdaq. The stock opened at $23.97 and has climbed as high as $25.49 so far in today's session. Over the past year, it has traded in a range of $8.73 to $25.49.
In the study, brepocitinib significantly improved disease activity, achieving a 22.3-point improvement in mean Cutaneous Sarcoidosis Activity and Morphology Instrument - Activity (CSAMI-A) score at Week 16, compared with a 0.7-point improvement with placebo. The treatment showed rapid and sustained improvements across other efficacy measures with a consistent safety profile.
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