Decibel Therapeutics, Inc. (NASDAQ: DBTX) is engaged as a clinical-stage biotechnology company, which is focused on the research and development of innovative treatments for restoring and improving hearing and balance issues. Shares of the auditory treatment company are rallying 24% through afternoon trading on Tuesday, June 28, 2022. Over the past three months, Decibel Therapeutics has seen average daily volume of 71,840 shares. However, volume of 397,469 shares or dollar volume of around $1.07 million, has already exchanged hands through afternoon trading.
Shares of Decibel Therapeutics are gaining after the company released positive top-line results from an interim analysis of its ongoing Phase 1b clinical trial of DB-020, a novel treatment designed to help protect against hearing loss in patients undergoing cisplatin Chemotherapy. Although cisplatin is among the most commonly used chemotherapeutic agents, it can have severe side effects including ototoxicity, which can lead to permanent hearing loss.
The interim analysis shows that 87% of patients suffering from ototoxicity in their placebo-treated ear were protected from the disease in their DB-020-treated ear. The data supports continuing to develop DB-020 as a potential treatment against hearing loss in patients undergoing cisplatin chemotherapy. Furthermore, DB-020 was shown to be well-tolerated with only mild to moderate adverse effects in some patients.
“These data support the approach and rationale for DB-020 and represent an important step forward in the development of DB-020 for patients receiving cisplatin chemotherapy. We are tremendously encouraged by the favorable safety profile and protection against ototoxicity we have observed in the trial as of the interim analysis,” said John Lee, Chief Development Officer of Decibel. “These promising data support continued development of DB-020 to prevent or minimize cisplatin-induced hearing loss, an irreversible condition for which there are currently no available treatments.”
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