Shares of pharmaceutical company Innoviva (NASDAQ:INVA) are soaring higher today after the U.S. Food and Drug Administration’s (FDA) Antimicrobial Drugs Advisory Committee voted to approve sulbactam-durlobactam for the treatment of hospital-acquired and ventilator-related bacterial pneumonia in adults that is caused by susceptible strains of Acinetobacter.
Importantly, the vote was unanimous and now sulbactam-durlobactam could potentially be the first pathogen-targeted therapy for Acinetobacter. Acinetobacter-related infections can be serious and life-threatening, leading to high mortality as it is resistant to penicillins and has also developed resistance genes for “almost all” antibiotics used to treat gram-negative bacteria.
Next, the New Drug Application for sulbactam-durlobactam has a Prescription Drug User Fee Act (PDUFA) target date of May 29.
Today’s price gains in Innoviva come on top of a 7.5% rise over the past month. At the same time, short interest in the stock remains elevated at nearly 15.3% at present.
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