NEW YORK, NY / ACCESSWIRE / October 9, 2017 / Shares of Paratek may have closed flat on Friday, but they were soaring to as high as $26.25 during pre-market trading after the company released encouraging results on its investigational antibiotic omadacycline. Shares of 22nd Century Group soared to a new 52-week high after preliminary clinical trial results suggested that the company's patented tobacco technology can help smokers quit.
RDI Initiates Coverage on:
Paratek Pharmaceuticals, Inc.
22nd Century Group, Inc.
Paratek Pharmaceuticals, Inc.'s shares closed flat on Friday with nearly 300,000 shares traded. Shares soared higher in premarket trading on Friday after the company released microbiology data from its Phase 3 Optic study of an investigational antibiotic called omadacycline. According to the data, the antibiotic is "active against the clinically important typical and atypical community-acquired bacterial pneumonia (CABP) pathogens." Chief operating officer and company President, Evan Loh, M.D., commented, "These microbiology data add to our growing understanding of the clinical and in vitro activity of omadacycline, and lay a foundation for clinicians for its potential use in the CABP setting where microbiological confirmation of infection is difficult and a pathogen is only identified in less than 10 percent of patients."
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22nd Century Group, Inc.'s shares closed up a little over 11% on Friday and hit a new high of $3.50 during intra-day trading. The stock's trading volume at nearly 15 million shares was also significantly higher than its average volume of just around 3.7 million shares. The big gains came after the company presented long-awaited clinical trial results. The results indicated that 22nd Century Group's patented tobacco technology helps smokers quit smoking. The 1,250 patient study is still under review, but preliminary results were impressive. According to the lead investigator on the study, smokers who's nicotine intake was immediately reduced by switching to cigarettes that were filled with a very low nicotine (VLN) tobacco dose of the company's, had a better chance of quitting faster than smokers who gradually weaned off. CEO Henry Sicignano III commented, "Considering the results of numerous phase II and phase III studies that have been conducted with VLN cigarettes, there is now compelling and conclusive evidence that Very Low Nicotine cigarettes decrease cigarette dependence, reduce the number of cigarettes smoked per day, and increase smokers' quit attempts."
"With the power to save millions of lives and to prevent a new generation of young people from becoming dependent on tobacco, minimally or non-addictive Very Low Nicotine cigarettes are the ultimate harm reduction strategy."
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