pSivida Corp. (NASDAQ:PSDV) is having an incredible day in the market today after posting solid data from a recent Phase 3 clinical trial. As a result of the solid data, a big opportunity for revenue is likely to open in the near future. Today, we’ll talk about the data from the recent trial, what it means for the company, how investors are reacting to the news and what we can expect to see from PSDV moving forward.
PSDV Announces Positive Medidur Data
In an early morning announcement today, we learned that the Phase 3 clinical trial of Medidur as a treatment for chronic noninfectious uveitis affecting the posterior of the eye ended in a positive way. The ultimate goal of the study was to evaluate the safety and efficacy of the treatment, and the results show that Medidur is safe and effective. The results showed that Medidur prevented recurrence of uveitis over the course of six months. Safety results were also overwhelmingly positive. During the announcement, Dr. Charles Foster, Clinical Professor of Ophthalmology at Harvard Medical School had the following to say…
“The results from this Phase 3 trial indicate that Medidur has the opportunity to be an effective, safe and convenient treatment for this blinding eye disease, avoiding the potentially serious side-effects and administration compliance challenges of the cycles of systemic steroids, immuno-suppressants and biologics now used to treat the disease… The ability to administer a three-year course of Medidur therapy for posterior uveitis in a single, in-office injection could allow many patients to significantly improve treatment outcomes and vision, reduce side effects and drastically simplify patient compliance as compared to current treatment alternatives.”
How PSDV Is Reacting To The News
As investors, history tells us that when positive news is released with regard to a publicly traded company, we tend to see gains. Considering the overwhelmingly positive results of the Phase 3 study of Medidur, PSDV is having an incredible day in the market today. Currently (10:01), the stock is trading at $4.99 per share after a gain of 34.77% so far today.
What We Can Expect To See From PSDV Moving Forward
Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from PSDV. The reality is that the Phase 3 study of Medidur was overwhelmingly positive. Not only did the study prove that the treatment is effective, but it proved that the treatment is safe. Considering that the current standard of care for posterior uveitis includes several visits to the ophthalmologist on a regular basis, several injections in the eye, and several dangers, this is a much needed treatment in the medical field. Because the Phase 3 data was overwhelmingly positive, we can expect to see PSDV working with the FDA relatively soon in order to submit the new drug application surrounding the drug. Considering this, we have several catalysts to look forward to that are likely to send the stock skyrocketing! All in all, based on the data from the Phase 3 trial, I’m expecting for Medidur to be approved and lead to a strong revenue opportunity for pSivida moving forward! This is likely to lead to a climbing stock value.