Arrowhead Pops 7% on First Patient Dosing of Adipotide
Shares of Arrowhead (NASDAQ: ARWR) are seeing increased strength during Wednesday's trading session after the company announced its first patient dosed with Anti-Obesity Treatment Adipotide.
Arrowhead announced that the first patient has been dosed in a Phase 1 clinical trial with Adipotide®, a new class of treatment for obesity. Adipotide, formerly known as Prohibitin-TP01, is a synthetic peptide that targets a protein on the surface of blood vessels supporting white adipose tissue (fat), disrupting the blood supply to fat cells and causing them to be reabsorbed and metabolized. Treatment has led to substantial weight loss, decreased food intake, and rapid metabolic changes with implications for Type II diabetes in multiple experimental animal models.
“We are delighted to announce that patient dosing has begun in the Phase 1 trial of Adipotide,” said Dr. Chris Anzalone, President and Chief Executive Officer of Arrowhead.
“Obesity and its related co-morbidities represent a serious public health issue in the United States and other parts of the world. We believe Adipotide is a promising pharmacological option to combat it."
Wednesday, shares of Arrowhead were trading up over 7 percent, at about $3.70 per share.
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