Wockhardt stock rose on October 7 after the US Food and Drug Administration granted it “fast track designation” for antibiotics used to treat urinary tract infections.
WCK 6777 has also completed a Phase I research undertaken by the National Institutes of Health in the United States, according to the report.
However, later in the day, the counter was trading 3.16% lower at ₹935, against the previous close of ₹965.50 on NSE. The counter touched an intraday high and low of ₹985, and ₹917.25, respectively.
The increase occurred after the company stated in an exchange filing on October 7 that, recognising its potential to meet significant unmet medical needs, the US FDA recently granted Fast Track designation to WCK 6777 for the treatment of complicated urinary tract infections (cUTI), including pyelonephritis, and complicated intraabdominal infections (cIAI).
WCK 6777 is the only once-a-day antibiotic in the global pipeline designated for outpatient parenteral antimicrobial therapy (OPAT), according to the company.
The business is developing many novel antibiotics to address difficult-to-treat drug-resistant bacterial infections that cause antimicrobial resistance (AMR).
Earlier this month, the pharmaceutical business said that one of its investigational drugs, Zaynich, effectively treated critically ill patients with drug-resistant meningitis.
Wockhardt stock has achieved multibagger gains of 104.92% in 2024 thus far. According to BSE data, the stock has risen by 117.71% during the last three years.
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