Stock Alert: Calliditas Therapeutics Jumps 30% On Positive Results From Kidney Disease Drug Trial

(RTTNews) - Shares of Calliditas Therapeutics AB (CALT) surged over 30% on Monday morning after the company announced positive topline results from a pivotal late-stage study of a chronic kidney disease treatment.

CALT is currently trading at $33.00, up $7.83 or 31.11%, on the Nasdaq.

The Phase 3 trial NefIgArd, which investigated the effect of Nefecon versus placebo in patients with primary IgA nephropathy, met its primary objective of demonstrating a statistically significant reduction in urine protein creatinine ratio after 9 months of treatment.

The trial also met the key secondary endpoint showing a statistically significant difference in estimated glomerular filtration rate after 9 months of treatment.

IgA nephropathy is a chronic kidney disease. It progresses over 10 to 20 years, and it can lead to end-stage renal disease. It is caused by deposits of the protein immunoglobulin A (IgA) inside the filters (glomeruli) in the kidney.