Wockhardt Completes Third Phase Study Of Pneumonia Antibiotic, Shares Jump 19%
The study showed a short course of three-day treatment with Nafithromycin is as effective as seven-day therapy with Moxifloxacin.
Shares of Wockhardt Ltd. surged 18.80% to a near two-year high on Monday, as it successfully completed phase-3 pneumonia study of macrolide antibiotic Nafithromycin.
The study result showed that a short course of three-day treatment with Nafithromycin is as effective as seven-day therapy with Moxifloxacin.
Nafithromycin or Wockhardt NCE, WCK 4873 was comparatively evaluated in a multi-centre double blind phase-3 pneumonia study, employing the last-line respiratory antibiotic Moxifloxacin, an exchange filing said.
Shares of the company rose 18.8%, the most since Jan. 17, 2022, before paring gains to trade 15.48% higher at 12:42 p.m. This compares to a 0.02% advance in the NSE Nifty 50.
The stock has risen 74.67% year-to-date. Total traded volume so far in the day stood at 3.6 times its 30-day average. The relative strength index was at 76.22.