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Vitae Pharmaceuticals Inc (NASDAQ:VTAE) witnessed unexpected growth in share prices on Thursday after it announced the trial results of experimental medication. As per the reports, Vitae’s shares plunged by a whopping 85.16% in intraday trading to touch a higher limit of $7.61. At the end of the day, shares closed 65.21% higher at $6.79 per share.

Insights of Matter

Vitae has been trying hard to come up with an experimental medication for psoriasis for a long time. On Wednesday, it announced that the Phase 2a “proof-of-concept clinical trial” for psoriasis was successful. All the top line results of the trial were positive. Reports claim that the company was working on an oral medication that could treat more than one autoimmune disorders, including psoriasis at a time without any hassle. Psoriasis is a common health issue in which skin cells form and build up scales as well as itchy, dry patches.

As part of this trial, Vitae conducted a randomized, placebo-controlled, double-blind trial to check whether the medication VTP-43742 was safe, effective and was good enough to be tolerated by psoriasis patients who were given multiple doses regularly for a period spanning over four weeks.

The results of this trial showed that those psoriasis patients who received 700-milligram dosages witnessed 30% reduction in their health issue while those who got 350-milligram dosage experienced 24% reduction in their psoriasis. At this time, the company doesn’t want to leave any stone unturned to make these trials successful. It’s planning to conduct another trial spanning over 16 weeks in the second half of 2016 to get more insightful results than this time.

Before the announcement of these results, it was being traded 77% down from its December 28 price. The senior management team seeks to continue this progress in the coming months and hopes that Vitae will live up to customers and shareholders’ expectations.

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Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg, Equities.com, Hacked.com, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.

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