For the twelfth day in a row, Wockhardt shares continued to increase, rising nearly 12% on Thursday to hit a new 52-week high of ₹993.35 a share on the BSE. Wockhardt’s shares have increased by more than 75% in the last 12 days.
The upward trend in Wockhardt stocks comes from the successful use of its investigational antibiotic Zaynich to treat a patient suffering from cancer in the US.
On June 28, Wockhardt stated that a young patient with cancer who has a compromised immune system and has been hospitalized for almost nine months at Children’s Hospital of Orange County, University of California Irvine School of Medicine, was successfully treated for a chronic thigh infection under compassionate use with four weeks of Zaynich (Zidebactam/Cefepime- WCK 5222). This allowed the doctors to resume chemotherapy.
It further stated that the hospital sought access to Zaynichunder a provision termed as ‘Expanded Access IND’ permitted by the US FDA.
At 11:14 am, Wockhardt shares were trading 3.80% at ₹923.oo.
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