Why Astria Therapeutics (ATXS) Shares Are Trading Higher Today

Astria Therapeutics Inc (NASDAQ:ATXS) announced preliminary results from the Phase 1a trial of STAR-0215 in healthy subjects.
The company says that data establishes early proof of concept of STAR-0215 as a potential long-acting preventative treatment for hereditary angioedema (HAE).
STAR-0215 was well-tolerated at all doses studied.
The results showed rapid and sustained drug levels consistent with clinical benefit and sustained target engagement with plasma kallikrein inhibition for at least three months, supporting the potential for STAR-0215 to be dosed once every three months or less frequently.
Astria plans to initiate the ALPHA-STAR Phase 1b/2 trial in HAE patients in Q1 2023.
Initial results are expected from the single and multiple dose cohorts in mid-2024.
Astria plans to evaluate the potential for 6-month dosing with additional healthy subject cohorts in the Phase 1a trial starting in Q1 2023, with initial results expected in Q4 2023.
Concurrently, Astria priced an underwritten offering of 9.08 million shares at $11.01 per share for gross proceeds of $100 million.
Price Action: ATXS shares are up 2.18% at $11.25 during the premarket session on the last check Thursday.

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