BELLUS Health Inc. (BLU) stock soared today after the release of positive findings from the phase 2b SOOTHE trial of BLU-5937. BLU stock price saw a surge of 10.22% to reach $5.50 a share at the time of this writing. The stock was gloomy in the previous trade and went low by 0.25% at closing. Let’s check out more about this stock.
BELLUS Health Inc is the clinical-stage pharmaceutical stock that is focused to treat chronic cough and other hypersensitization diseases.
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The BLU stock happened to be green after it announced a positive interim analysis of Phase 2b SOOTHE trial of BLU-5937. BLU-5937 is the highly selective P2X3 antagonist of the BLU stock that treats patients suffering from refractory chronic cough. The stringent pre-defined probability threshold for clinical efficacy has been met for at least one BLU-5937 dose. The trial showed no adverse event however, limited taste-related events were observed.
Refractory chronic cough is the condition due to which the patient suffers a lot in his everyday life. There is no significant treatment to reduce this cough so far. However, P2X3 antagonists have shown promising results so far and BLU stock is optimistic that BLU-5937 will prove to be an effective treatment for this disease in the long run.
Financial Results of BLU stock:
On August 11, 2021, BELLUS Health announced second-quarter 2021 financial results according to which
- BELLUS stock suffered a net loss of US$17.8 million in the three months ended June 30, 2021. This compares to the net loss of $8.4 million in the same period of the previous year.
- BLU stock spent US$15.2 million in research and development expenses in the recently reported quarter. It spent $5.9 million in research and development expenses in the same period of the previous year. This represents an increase of 158% or $9.3 million over the previous year.
- BELLUS reported $2.8 million in general and administrative expenses in Q2,2021 lower than $3.4 million in Q2,2020.
- Net finance income for the BLU stock decreased to $0.2 million in Q2,2021 as compared to $0.9 million in Q2,2020.
- At the end of the second quarter, BELLUS stock had $72.3 million in cash, cash equivalents, and short-term investments.
So far so good for BELLUS stock as far as market sentiment is concerned. The management is keen to accelerate the planning for the phase 3 program of SOOTHE trial after encouraging SOOTHE Phase 2b trial interim analysis.