Acasti Pharma (TSX:V.APO, Stock Forum), an emerging biopharmaceutical firm working on the research, development and commercialization of new krill oil-based omega-3 phospholipid therapy forms for the treatment and prevention of certain cardiometabolic disorders, announced today that the company had successfully completed the Phase II double-blind, placebo-controlled (TRIFECTA) study and the Pharmacokinetic (PK) trial.
According to the news release, the TRIFECTA trial was to determine the safety and efficay of CaPre® in reducing triglyceride levels in patients with mild to severe hypertriglyceridemia and the Pharmacokinetic trial was to evaluate blood profiles and bioavailability in healthy human volunteers taking single and multiple does of CaPre®.
Results from the trials are a necessary part of the company's on-going discussions with the US Food and Drug Administration to obtain approval to conduct a Phase III trial in the USA.
Company interim president and CEO, Andre Godin, commented on the achievement, “The conclusion of the clinical studies is a key milestone in our drug development program and we look forward to obtaining results for the two trials.”
Acasti was in the news recently when the Laval Quebec-based company announced granting stock options to newly appointed board members 12 days ago.
Shares bumped 8.41% on the news to $1.16 per share.
Currently there are 106.3m outstanding shares with a market cap of $124.3 million.