Vital Therapies Inc (NASDAQ:VTL) was a massive decliner during Monday’s trading session. The stock collapsed by close to 7% on high volumes, which were 1.2 times the daily average.. The stock has formed a bearish engulfing pattern on the daily charts indicative of the strong sell-side momentum at the current moment. The stock currently trades below its 200-day moving average. The indicator for relative strength has given a fresh sell signal indicative of lack of strength. The MACD oscillator has given a sell signal, which is considered to be bearish. Investors believe the stock could head to levels of $7.40 in the near term.
Vital Therapies Inc (NASDAQ:VTL), better known as a BioTherapeutics company that works towards developing ELAD, has announced the launch of VTL-308 Phase 3 Trial.
As per the reports, ELAD is a cell-based therapy that is used for treating liver failure. The company has received a written feedback as part of its Type C meeting request from U.S. Food and Drug Administration.
Insights On The Matter
As per the suggestion given by the FDA, Vital has incorporated a feature into the initial design used in the trials. Under this advanced design, enrollment procedure will continue until at least 150 subjects have enrolled in the trial and 55 events have taken place. So far, the development of the VTL-308 program is going as per the plans and assistance provided by FDI. The opening of the 1st subject is scheduled in the first half of 2016, whereas the end is expected during mid-2018.
VTL-308 is a well-organized phase 3 controlled randomized, open-label trial that’s fully designed to evaluate and analyze ELAD System in different subjects with AILD or alcohol induced liver disease. These subjects need to meet all the prescribed criteria based on post-hoc and pre-specified analyses. The other condition that needs to be met is the age of subjects. They should be below 50 years of age, INR of 2.5 or below, MELD score under 30, bilirubin level of at least 16 mg/dL, and creatinine level below 1.3 mg/dL.
Vital Therapies Announces Poster And Late Breaker Presentations
Meanwhile, Vital Therapies announced a couple of presentations were given at the renowned Liver Meeting – the yearly meeting of AASLD (American Association for the Study of Liver Disease). During the meeting, David J. Reich, Principal Investigator of the study, announced the full-fledged results of the VTI-208 clinical trial.
The senior management of the company is delighted to have presented these results and hopes that it will continue to live up to investor’s expectations in the coming years as well.