Satsuma Pharma Shares Rise After Raising $80M Via Private Placement, Plans New Pivotal Study For Migraine

Satsuma Pharmaceuticals Inc (NASDAQ: STSAwill conduct a new Phase 3 efficacy trial for STS101 (dihydroergotamine (DHE) nasal powder) as an acute treatment option for migraine.

  • The study will start in mid-2021, with topline data expected in the second half of 2022.
  • The new Phase 3 trial takes into account findings from the previous Phase 3 EMERGE study.
  • STS101 showed numerical differences in favor of STS101 5.2 mg and 3.9 mg versus placebo. Still, it failed to achieve statistical significance versus placebo on freedom from pain and most bothersome symptom at two hours post-administration.
  • Also, the company plans to start a Phase 1 trial in the second quarter of 2021 to evaluate the pharmacokinetics, safety, and tolerability of STS101 5.2 mg and two higher dose strengths.
  • As of February 23, the company has enrolled over 275 subjects in its ongoing ASCEND long-term safety trial.
  • STS101 5.2 mg has been well-tolerated to date, with low adverse event rates and no drug-related serious adverse events reported.
  • Interim data show that anti-migraine activity was observed at STS101 5.2 mg dose at the two-hour time point.
  • Concurrently, the company announced a securities purchase agreement with investors for $80 million private placement financing
  • Net proceeds from the private placement and its cash balance as of December 31, 2020, will provide cash runway into the second half of 2023
  • Price Action: STSA shares are up 22% at $6.93 in premarket trading on the last check Monday.

Posted In: MigrainesPhase 3 TrialBiotechNewsHealth CareOfferingsFDAGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.