Biopharmaceutical Company Versartis Announces Third Quarter Results

Versartis, Inc. (NASDAQ:VSAR) has announced its third quarter financial results for the period ending on September 30th. The biopharmaceutical company is focused on developing somavaratan (VRS-317), a novel, long-acting form of recombinant human growth hormone (rhGH) for growth hormone deficiency (GHD).
According to the press release:

Jay Shepard, Chief Executive Officer, commented, “With the initiation of VITAL, our Phase 2 trial for once-monthly treatment in adult GHD patients, we added another significant market opportunity for somavaratan during the quarter. We believe there is significant need for a long-acting treatment in this adult population. With three late-stage trials and our ongoing Extension Study, Versartis is continuing to make important advancements in the clinical development of somavaratan and is positioning the company for long-term growth within very attractive markets.”
Mr. Shepard continued, “As we entered the fourth quarter, we continued to make good progress enrolling children into our ongoing pediatric studies and remain on track to complete enrollment of VELOCITY by the middle of 2016. Looking ahead into 2016, we have a clear focus on the development of somavaratan for both pediatric and adult patients across several geographies. To date, we have generated promising efficacy and safety results that we believe position somavaratan as the leader among current long-acting growth hormone therapies in development.”

 
Click here to read the full press release.