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Glenmark Pharma reports positive data from Phase 2a study of GBR 830

Glenmark Pharmaceuticals, on Tuesday has announced positive data from a Phase 2a study of GBR 830, an investigational, anti-OX40 monoclonal antibody, in atopic dermatitis (AD), a common and serious chronic skin disease.

The study evaluated the safety, biological and clinical activity, and pharmacokinetics of GBR 830, relative to placebo, in adults with moderate-to-severe AD with history of inadequate response to topical therapies. Based on the results of this Phase 2a study, Glenmark is firmly committed to advancing GBR 830 for patients with AD and plans to initiate a Phase 2b trial in the first half of calendar year 2018.

GBR 830 is designed to inhibit OX40, a costimulatory immune checkpoint receptor expressed on activated T cells and memory T cells. Costimulatory signals are essential for T cell activity and binding between OX40 and OX40L is a biomarker for the severity of autoimmune diseases.

Atopic dermatitis (AD), also known as eczema, is a chronic skin disease caused by allergic reactions. Characterized by dry, itchy skin, AD affects nearly 18 million Americans and accounts for as many as 1 in 5 dermatology visits.

Stock View:

Glenmark Pharmaceuticals Ltd is currently trading at Rs 708, up by Rs 10.6 or 1.52% from its previous closing of Rs 697.4 on the BSE.

The scrip opened at Rs 703 and has touched a high and low of Rs 710 and Rs 703 respectively. So far 18246(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 19681.33 crore.

The BSE group ‘A’ stock of face value Rs 1 has touched a 52 week high of Rs 993 on 01-Nov-2016 and a 52 week low of Rs 600 on 29-May-2017. Last one week high and low of the scrip stood at Rs 748 and Rs 690.05 respectively.

The promoters holding in the company stood at 46.53 % while Institutions and Non-Institutions held 38.89 % and 14.58 % respectively.

The stock is currently trading above its 200 DMA.