The stock of ObsEva SA (OBSV) gained in the pre-market after the company announced their results for phase 3 Edelweiss 3 trials. The stock of OBSV was valued at $2.13 in the pre-market. This is a gain of more than 3.4% from the previously closed value. At the end of the last trading session, the stock of OBSV closed at $2.06. The total volume of the stock traded in the last trading session was approximately 980.26K shares.
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Reason for the OBSV stock gain
The stock of ObsEva SA (OBSV) slightly gained in the pre-market after the company announced their results for the phase 3 Edelweiss 3 trials. The treatment was done with Linzagolix 200 mg with add-back therapy in the patients that have moderate to severe Endometriosis related pain.
The three months results showed that the daily linzagolix 200 mg daily with ABT depicted the reductions in dysmenorrhea and non-menstrual pelvic pain versus placebo at 3 months. It also showed the treatment to be statistically important and clinically meaningful progress vs placebo in ranked secondary endpoints of dyschezia, dysmenorrhea, pelvic pain, non-menstrual pelvic pain, and capability to finish daily activities in six months.
The daily linzagolix 75 mg without ABT showed statistically considerable improvement for dysmenorrhea vs placebo. It showed progress but did not satisfy the co-primary goal of reduction in non-menstrual pelvic pain at three months. It also showed advancement in secondary endpoints in six months.
The doses of both linzagolix were well-tolerated with minimal bone mineral density (BMD) drop, and in over 5% of patients, on and off adverse events occurred in either active treatment arm. Additional data of both treatments will be provided in the second quarter of 2022.
Effect on the stock
The announcement about the results of the ongoing trials created a value of the stock of ObsEva SA (OBSV). The investors seem to be taking interest in the stock of OBSV. The gain is not significant but some of them are taking the chance to see the prospect of the Linzagolix 200 mg.
Conclusion
2nd quarter of ObsEva SA (OBSV) will be important for them as the investors will make their decisions based on its successful trials. Positive results will benefit the value of its stock. The additional data should have hope for the Linzagolix 75 mg otherwise investors will be shying from trusting the stock of ObsEva SA (OBSV) for a while.
