Expectations exceeded for Arecor's two lead clinical-stage programmes
By Josh White
Date: Monday 23 May 2022
(Sharecast News) - Biopharmaceutical developer Arecor Therapeutics said in an update on Monday that it was making "huge strides" on its growth trajectory, focussed on its two lead clinical-stage programmes.
The AIM-traded firm, which was holding its annual general meeting, said the impact that the growing global number of diabetes patients was having on resources, the health sector and lives was growing.
Non-executive chair Andrew Richards said the phase 1 clinical trial data for both its lead product, the ultra-rapid insulin 'AT247', and for its second product, the concentrated rapid insulin 'AT278' targeting patients that require higher volumes of insulin, exceeded its expectations.
"We believe that our products will provide that key to unlock the future treatment landscape for diabetes," Richards told shareholders.
"With our partnered portfolio continuing to attractive high calibre pharmaceutical companies and strong support from our shareholders following our successful initial public offering on the London Stock Exchange last year, we believe that Arecor is well positioned to both deliver on existing programmes and attract new and exciting opportunities in the coming year to create long-term shareholder value."
At 1114 BST, shares in Arecor Therapeutics were up 3.16% at 392p.
Reporting by Josh White at Sharecast.com.
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