Bio-Path Rockets To 4-Month High As Obesity Drug Shows Promise For Diabetes: Retail In Celebration Mode
By Stocktwits Inc | First Published Dec 20, 2024, 1:21 AM ISTThe company said it has initiated animal studies to further confirm the drug’s efficacy, with plans to launch a first-in-human Phase 1 trial in 2025.
Bio-Path Holdings Inc.’s stock (BPTH) soared over 150% Thursday afternoon, hitting levels last seen in August, making it the second-biggest gainer across U.S. exchanges.
The surge followed the company’s announcement of promising preclinical data for its drug candidate BP1001-A, targeting obesity and related metabolic disorders in Type 2 diabetes patients.
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The preclinical studies revealed that BP1001-A enhances insulin sensitivity by downregulating growth factor receptor-bound protein 2 (Grb2), which plays a crucial role in insulin signaling.
By targeting Grb2, the treatment demonstrated potential in lowering blood glucose levels. This approach is seen as a promising alternative to current weight loss drugs that struggle to show efficacy in obese patients with Type 2 diabetes.
Bio-Path CEO Peter Nielsen said, “The failure of leading weight loss medications to induce weight loss in obese patients who have Type 2 diabetes creates a compelling need for an alternative method of lowering blood glucose in obese patients who have Type 2 diabetes.”
"We are excited by the rapid progress we have made advancing BP1001-A as a potential treatment for obesity and related metabolic diseases in Type 2 diabetes patients based on previous BP1001-A preclinical studies as they support our continued and rapid development of this promising program,” he added.
The company said it has initiated animal studies to further confirm the drug’s efficacy, with plans to launch a first-in-human Phase 1 trial in 2025.
On Stocktwits, Bio-Path became a trending symbol, with sentiment turning ‘extremely bullish’ as message volume reached its highest point this year.
Many retail investors expressed enthusiasm for accumulating the stock during after-hours trading to counter potential short-seller activity.
In October, Bio-Path shares surged after the company announced its development program for BP1001-A. While the drug is being explored for obesity and metabolic diseases, it is also undergoing a Phase 1/1b trial for solid tumors.
Despite the dramatic single-day rally, the stock remains down over 80% year-to-date.
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