Teva Pharmaceutical Industries shares advanced 3.3% in pre-market trading after the company announced positive Phase 2a clinical trial results for its investigational anti-interleukin-15 antibody, TEV '408, in celiac disease.
The trial met its primary endpoint, demonstrating statistically significant and clinically relevant prevention of gluten-induced intestinal damage at week 8 compared to placebo, with a favorable tolerability profile and no concerning safety signals reported. The data was presented during an investor conference call on Monday.
TEV '408 is being developed in partnership with Royalty Pharma, which has committed up to $500 million in funding for its clinical development. Beyond celiac disease, the antibody is also being advanced into a Phase 2b study for vitiligo, positioning it as a potential multi-indication asset in autoimmune diseases.
The positive trial outcome follows a series of developments supporting Teva's ongoing business transformation. Moody's upgraded the company's credit rating to investment grade, and the FDA granted priority review status to ecopipam for Tourette's syndrome. The company has also revised its full-year revenue guidance upward, contributing to a stock price recovery toward its 52-week high.
In broader market context, the S&P 500 gained 0.1%, the Dow Jones rose 0.3%, while the Nasdaq showed a slight decline during the pre-market trading session.
