The firm also reported that Gemini significantly reduced inflammatory activity in the trial and restored normal cellular response to stimuli.
Revelation Biosciences, Inc. (REVB) on Tuesday announced positive safety and activity data from an early-stage trial of its investigational drug Gemini in stage 3 and 4 chronic kidney disease patients.
However, shares of the company tumbled 17% at the time of writing, after the company reported that three severe adverse events were identified at the highest dose of Gemini in the study, including chills, nausea, and vomiting. However, this was all resolved in three hours or less, the company noted, while adding that other reported adverse events were either mild or moderate.
On Stocktwits, retail sentiment around REVB stock jumped from ‘neutral’ to ‘extremely bullish’ over the past 24 hours, while message volume rose from ‘normal’ to ‘high’ levels.
A Stocktwits user termed the news as “clear bullish” and opined that the stock could explode at any moment.
Another user expressed surprise at the stock drop.
Revelation CEO James Rolke said that the results of the study demonstrate the potential of Gemini to be a “game-changer” in the treatment of acute and chronic inflammation. The company is now looking forward to a meeting with the FDA later this year to discuss the program’s advancement, he added.
Chronic kidney disease is caused by chronic inflammation. Progression of chronic kidney damage often leads to end-stage renal disease with the need for dialysis or transplantation, the company noted.
REVB stock is down by about 89% this year and by about 94% over the past 12 months.
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