Connect Bio jumps 17% on long-term data for ulcerative colitis candidate

Connect Biopharma (NASDAQ:CNTB) added ~17% in the morning hours Friday after announcing long-term data from its Phase 2 trial for ulcerative colitis candidate icanbelimod, previously known as CBP-307.
Citing data from a maintenance period in the trial known as CBP-307CN002, Connect (CNTB) said that 80% (8/10) of patients who achieved clinical remission at the end of the 12-week induction Phase sustained response through Week 48.
Meanwhile, 67% of patients who completed the study through the 36-week maintenance period achieved clinical remission. 57% of those who indicated clinical response at the end of the induction phase achieved clinical remission at the end of the maintenance phase.
48-week data from the trial also showed that the safety profile of the oral therapy was in line with findings from the induction phase.
In May 2022, Connect (CNTB) shares plunged after topline data indicated that the placebo-controlled trial did not meet the primary endpoint with statistical significance.

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