Vitae Pharma Stock Climbs On Positive Study Results In Alzheimer's Disease

(RTTNews) - Vitae Pharmaceuticals, Inc.'s (VTAE) shares climbed around 39 percent in the after hours trading in the Nasdaq on Thursday after the clinical-stage biotechnology company announced positive top-line results from clinical trials in treatment and prevention of Alzheimer's disease.

The studies were part of the collaboration with German pharmaceutical firm Boehringer Ingelheim.

The two Phase 1 clinical trials of BI1181181/VTP-37948, an orally active beta secretase (BACE) inhibitor discovered by Vitae and developed by Boehringer Ingelheim, are randomized, placebo-controlled single dose studies that involved a total of 68 healthy volunteers.

BI1181181/VTP-37948 is Vitae Pharmaceuticals' orally active BACE inhibitor that is being developed by Boehringer Ingelheim in the framework of a partnership.

The single rising dose trial assessed the safety, tolerability and pharmacokinetic profile of BI1181181/VTP-37948.

In the study, BI1181181/VTP-37948 was safe and generally well-tolerated across all dose levels tested. Also, the results indicated a half-life of between 16 and 19 hours, supporting a once-daily dosing profile.

BI1181181/VTP-37948 demonstrated greater than 80 percent reduction of an Alzheimer's Disease biomarker, the cerebral spinal fluid Amyloid Beta levels.

Based on the results of both of these trials, Boehringer Ingelheim expects to initiate additional Phase 1 studies, including a multiple rising dose trial which is expected to complete in the first half of 2015.

"To the scientists, the amyloid beta reduction observed with BI1181181/VPT-37948 provides early, but encouraging, insights into its potential to demonstrate clinical efficacy," said Dr. Richard Gregg, Chief Scientific Officer of Vitae. "Further, these Phase 1 results support BI1181181/VTP-37948's potential for well-tolerated, once-daily dosing for patients."

Vitae shares closed Thursday's regular trading at $8.65, up 7.45 percent. In the extended trading, shares gained 38.73 percent further at $12.