IPO Lockup Expiration Alert: Calliditas Therapeutics (CALT)

(RTTNews) - The lockup period of Calliditas Therapeutics AB (publ) (CALT) expires tomorrow (December 2).

Stockholm, Sweden-based Calliditas Therapeutics is specialty pharmaceutical company, focused on developing its product candidate Nefecon for treatment of patients with the inflammatory renal disease IgA nephropathy (IgAN).

Nefecon is under a global phase III clinical trial in patients with primary IgA nephropathy, dubbed NefIgArd.

The Nefigard study consists of two parts - Part A and Part B.

Part A, which is the basis for potential regulatory submissions and approvals, provides data on the efficacy and safety of Nefecon. Part B is designed to be a confirmatory post-market approval observational trial to confirm long-term renal protection.

Calliditas reported positive results from Part A of the trial on November 8. The trial met its primary objective of demonstrating a statistically significant reduction in urine protein creatinine ratio, UPCR or proteinuria, after 9 months of treatment with 16 mg of Nefecon compared to placebo, with significant continued improvement at 12 months.

Recruitment in Part B of the NefIgArd trial is expected to be completed this quarter or Q1 2021, depending on the impact of COVID-19.

Early in the month, the company acquired a controlling interest in France-based Genkyotex SA representing 62.7%.

Calliditas made its debut on The Nasdaq Global Select Market on June 5, 2020, offering its ADSs at a price of $19.50 per ADS and the 180 day lockup period is all set to expire tomorrow.

CALT opened the first day of trading on June 5 at $19.90 and closed at $19.60 that day. The stock has thus far hit a low of $19.00 and a high of $38.00.

CALT closed Monday's trading at $36.65, up 11.06%.