Dallas, Texas 02/24/2014 (FINANCIALSTRENDS) – The $74 million market capped penny stock Mast Therapeutics Inc (NYSEMKT:MSTX) which is into designing and manufacture of new drugs reported on 18th February, additional results from its clinical trials on its target drug to treat heart ailments. The highlight of the update was the fact that the drug maker was able to record data which indicated a substantial reduction in the levels of “troponin and NT-proBNP” in the blood of patients who were administered the target drug “MST-188” under development as a potential treatment course for recurring heart failure.
As part of the update on the positive data findings, Mast Therapeutics Inc (NYSEMKT:MSTX) has reported that, “MST-188 resulted in statistically significant and progressive reductions in troponin-I, at both 1 week and 2 weeks after MST-188 administration. Specifically, at 2 weeks post-administration, compared to baseline values, mean reduction (improvement) in troponin was 46.7% for low-dose MST-188 and 48.8% for high-dose MST-188. In contrast, troponin increased 7.7% in the control group.”
It is appropriate to note here that the “troponin” in question is a protein which resided inside and among the cells and is produces by microbodies called “cardiomyocytes” which make up the cells of the heart muscle in the event of body injury or other physical trauma. The reduction in levels of troponin found in the blood of patients undergoing this clinical trial is being heralded as a positive outcome, since it has been found that higher levels of troponin in the blood directly increased the mortality rates in patients.
The analysts and the investor community largely ignored the positive developments highlighted by this announcement. The stock is trading $0.73, 34 percent below its 52 week high price point of $1.1 per share. The development stage firm has accumulated net loss of $19.8 million from operations over the past 12 months.