Reata Pharmaceuticals Wins Big in Kidney Study

By Chris Lange Updated Jan 11, 8:36PM EST · Published Jul 23, 11:05AM EDT

Follow 24/7 Wall St. on Google

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Reata Pharmaceuticals Wins Big in Kidney Study — © fizkes / iStock

Reata Pharmaceuticals Inc. (NASDAQ: RETA) shares saw a solid gain on Monday after the company reported results from a couple midstage kidney trials. Specifically, the firm announced results from two Phase 2 studies of bardoxolone methyl (bardoxolone) in patients with chronic kidney disease (CKD).

Overall, Reata reported positive one-year results for the Phase 2 portion of CARDINAL, a study of bardoxolone in patients with CKD due to Alport syndrome, and positive final results for the Phase 2 autosomal dominant polycystic kidney disease (ADPKD) cohort of PHOENIX.

In regards to safety in the Phase 2 portion of CARDINAL, no treatment-related serious adverse events were reported, and the reported adverse events have been generally mild to moderate in intensity.

There were 25 patients available for the analysis, and no discontinuations were reported with respect to the bardoxolone treatment.

[nativounit]

Warren Huff, Reata’s president and chief executive, commented:

The results announced today add to the large body of clinical evidence that bardoxolone treatment has the potential to prevent or delay kidney failure in rare forms of chronic kidney disease. Importantly, today’s CARDINAL data demonstrate that one year of bardoxolone treatment can improve kidney function in Alport syndrome patients that have had progressive loss of kidney function while on standard of care. Further, the magnitude of the observed retained eGFR benefit after withdrawal of drug versus the historical rate of eGFR loss suggests that the Phase 3 portion of CARDINAL is conservatively powered with respect to the key secondary endpoint of retained eGFR benefit. Additionally, the eGFR increase at Week 12 observed in patients with ADPKD suggests that long-term improvements from treatment with bardoxolone in other forms of CKD may translate to patients with ADPKD.

Shares of Reata were last seen up about 26% at $58.62 with a consensus analyst price target of $55.00 and a 52-week trading range of $19.31 to $59.02.

[recirclink id=479320]

[wallst_email_signup]

About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.