Shares of biopharmaceutical company DBV Technologies (NASDAQ:DBVT) are rising today after the U.S. Food and Drug Administration lifted the partial clinical hold on DBVT’s VITESSE Phase 3 trial evaluating the Viaskin Peanut 250ug patch for treatment in peanut-allergic children.
Importantly, DBVT successfully addressed all the issues in the partial clinical hold letter. The company now plans to begin patient screening in the first quarter of 2023 and topline results from the trial are anticipated in H1 2025.
Further, DBVT is also planning a separate safety study on about 275 subjects. Results from this study will supplement findings from the VITESSE trial.
The Street currently has a Moderate Buy consensus rating on the stock alongside an average price target of $7.50. This implies a massive 535.6% potential upside in the stock.
Shares of the company have dropped nearly 53% over the past six months.
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