Spherix Shares Rise on Promising Diabetes Drug Data
Shares in Spherix shot up by 77 percent after the biotechnology company announced preliminary Phase III results for its Type 2 diabetes drug candidate. Patients in the NEET (Naturlose Efficacy Evaluation Trial) study experienced a significant drop in blood glucose after taking D-tagatose. Drops in body mass index, triglycerides, HDL, and LDL were also observed.
D-tagatose was originally developed as a sugar substitute. The drug may offer an alternative to currently available diabetes treatments, which may cause discomfort or lead to dangerous side effects such as cardiovascular disease. Bethesda, Maryland-based Spherix is studying D-tagatose as an adjunct to diet and exercise in the treatment of Type 2 diabetes.
Type 2 diabetes is the most common form of diabetes, affecting millions of Americans. Endosphere is another company working in this space. The Redwood, Calif.-based company develops endoscopically implantable devices for the treatment of metabolic disorders such as Type 2 diabetes. Bioject Medical Technologies (which manufactures needle-free drug delivery systems), AgaMatrix, Sensys Medical, and Infopia USA are companies working to help diabetes patients manage and monitor their conditions.
