New Diabetes Candidate Results Rocket Spherix (SPEX)
Spherix Inc. (NASDAQ: SPEX) has doubled today. It was only a $1.00 stock, and its market cap is still only about $30 million. So moves like this are not extremely uncommon on any new solid developments. The news is that Spherix announced positive preliminary results from its Phase 2 clinical trial of its novel compound, Naturlose. This is aimed for the treatment and management of Type 2 diabetes.
The Phase 2 trial is expected to be completed in early 2010. The ongoing single-blind study was designed to establish the minimum dose of Naturlose. The company noted that Naturlose appears to begin showing an effect on HbA1c within the range of doses selected for this minimum-dose study.
The ongoing Phase 3 double-blinded study of efficacy is being conducted. Naturlose decreased the average serum triglycerides by the end of the first month.
This is very preliminary data, and full details are here at the Spherix site.
Jon C. Ogg
