Wockhardt shares skyrocket 18% to fresh 52-week high. Here’s why?
Shares of Wockhardt surged 18% in early trading to reach a new 52-week high of Rs 811.50 on NSE. The sharp increase followed the company's announcement of the successful use of its investigational antibiotic, Zaynich (Zidebactam/CefepimeWCK 5222), in treating a young, immune-compromised cancer patient at the Children's Hospital of Orange County in the US.
Shares of rallied 18% in early trade to its new 52-week high of Rs 811.50 on NSE. The sharp surge was after the company announced the successful use of its investigational antibiotic, Zaynich (Zidebactam/CefepimeWCK 5222) to treat a cancer patient in the US.The hospital (Children's Hospital of Orange County) sought access to Zaynich, for a young immune-compromised cancer patient, who had been hospitalized for nearly nine months, under a provision termed as ‘Expanded Access IND’ granted by the USFDA.
The patient was successfully treated with four weeks of Zaynich for a chronic thigh infection under the use, enabling doctors to resume chemotherapy. This case marks the first instance in the US where Zaynich has been employed to combat a complex infection caused by extreme-drug-resistant Pseudomonas.
“Till recently, the patient was in severe pain and faced mobility challenges and pressure ulcers at various areas of skin with inflammation. The infecting pathogen was a metallo-β-lactamase-harbouring Pseudomonas aeruginosa, which is one of the toughest resistance mechanisms known. After 2 weeks of Zaynich (Zidebactam/Cefepime- WCK 5222) treatment, the thigh wound beds started looking healthy with diminished bacterial load, and xenograft placement could be undertaken. Eventually, the abdominal wound completely healed and bilateral thigh wounds fully incorporated the graft. After 4 weeks of Zaynich treatment, since the wounds appeared healed, no cultures were taken. Zaynich (Zidebactam/Cefepime- WCK 5222) was well-tolerated by the patient during the 4-week treatment,” the Wockhardt press release stated.
Zaynich is currently undergoing a multi-national phase 3 study, expected to support its registration/marketing authorization globally. Earlier, several Phase 1 studies, including clinical pharmacology studies with Zaynich were conducted in the US.
have risen 32% in the last week while having given multibagger returns of 231% in the last year.
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