How Will the Market React to News of Arca Biopharma, Inc. (NASDAQ:ABIO)’s Announcement?

Biopharmaceutical company, Arca Biopharma, Inc. (NASDAQ:ABIO) announced the randomization of the first European patients in the GENETIC-AF Phase 2B/3 clinical trial. GENETIC-AF, which has been enrolling patients in the United States and Canada.

ARCA biopharma, Inc. (ABIO), a biopharmaceutical company applying a precision medicine approach to the development of genetically-targeted therapies for cardiovascular diseases, today announced the randomization of the first European patients in the GENETIC-AF Phase 2B/3 clinical trial. GENETIC-AF, which has been enrolling patients in the United States and Canada, is evaluating GencaroTM as a potential treatment for atrial fibrillation (AF). Last week, ARCA hosted a GENETIC-AF European Investigator Meeting which brought together European physicians and research coordinators for study-specific training and information sharing. It is estimated that approximately six million patients in Europe have atrial fibrillation.

ARCA is evaluating Gencaro, a pharmacologically unique beta-blocker and mild vasodilator, as a potential treatment for AF in the GENETIC-AF Phase 2B/3 clinical trial. ARCA has identified common genetic variations that it believes predict individual patient response to Gencaro, giving it the potential to be the first genetically-targeted therapy for the prevention of atrial fibrillation.

“We are excited to expand the GENETIC-AF trial to European investigative sites that have expressed interest in participating in the on-going trial,” said Michael R. Bristow, President and Chief Executive Officer. “We expect that the additional investigative sites in certain European countries will support the latter part of Phase 2B, and potentially the Phase 3 stage, of the trial. We believe inclusion of European investigative sites may also support potential European regulatory submissions and on-going business development activity.”

Based on the current enrollment rate, the Company expects to randomize at least 150 patients into the trial by the end of 2016. The GENETIC-AF Data Safety Monitoring Board (DSMB) will conduct an interim efficacy, safety and futility analysis of data from at least 150 patients with evaluable data. The Company expects the outcome of this interim analysis in the second quarter of 2017.

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Arca Biopharma, Inc. (NASDAQ:ABIO) shares have moved -0.38% on the news thus far today and have traded in the range of $2.64 – 2.74 during the current session. In order to take a look at where the stock might be headed longer term, investors often look to research firms that cover the stock. Sell-side research firms currently have a consensus one-year price target of $16.50 on the stock.  This is according to brokerage analysts polled by Thomson Reuters First Call.  The sell-side analysts are projecting earnings per share of $0.00 for the next fiscal quarter.  For the current year, analysts are predicting earnings of $-1.75 per share according to First Call.

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In looking at where the stock is trading on a technical level, the stock is trading -8.24% away from its 50-day moving average of $2.89.  Based on the most recent available data, the equity is -61.98% off of its 52-week high of $6.97 and +0.76% away from its 52-week low which is $2.63

Today, the stock opened at $2.64 and the last bid at the time of writing stood at $2.65.  During the session thus far, the equity dipped down to $2.64 and touched $2.74 as the high point.  ARCA biopharma, Inc. has a market cap of $24.02M and has seen an average daily volume of 14455 over the past three months.

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