Satsuma Pharma Reports Positive Results Early-stage Study Of STS101

(RTTNews) - Shares of Satsuma Pharmaceuticals, Inc. (STSA) are gaining over 13% in extended trading session on Wednesday after the clinical-stage biopharmaceutical company announced positive results from early-stage study of STS101.

Satsuma Pharmaceuticals reported positive pharmacokinetic, tolerability and safety results from a phase 1 trial of STS101. The study data showed that all three dose strengths administered with Satsuma's improved second-generation nasal delivery device were well-tolerated and achieved the target pharmacokinetic profile.

Satsuma said it is initiating its SUMMIT Phase 3 efficacy trial with the 5.2 mg dosage strength of STS101.

"The totality of data generated in our STS101 development program, including these new Phase 1 data and improved delivered dose results, strongly support evaluating the 5.2 mg dosage strength of STS101 in the upcoming SUMMIT Phase 3 efficacy trial," stated John Kollins, Satsuma's President and Chief Executive Officer.

STSA closed Wednesday's trading at $4.95, up $0.03 or 0.61%, on the Nasdaq. The stock further gained $0.66 or 13.33%, in the after-hours trading.