Wockhardt shares add to their 220% gain for 2024 with another 10% surge — Explained – CNBC TV18

Shares of Wockhardt Ltd. are trading with gains of 10% on Monday, December 16, after the company announced the successful use of its drug Zaynich (WCK 5222) in a patient suffering from cancer in the US.

The company said 15 days of treatment with Zynich helped control the infectious process and cleared the way for a transplant of the said patient.

“The pathogens from this patient, Pseudomonas aeruginosa and Klebsiella pneumoniae, were found to possess some of the most challenging resistance mechanisms such as IMP, NDM and OXA-48, which were effectively neutralised by the β-lactam enhancer mechanism of Zaynich,” Wockhardt said in the exchange filling.

Wockhardt said that the drug is nearing the completion of its Phase III study for global registration and marketing authorisation.

The company’s new drug discovery portfolio focuses on unmet needs for antibacterial drugs effective against untreatable superbugs.

To date, 45 patients have benefitted from compassionate use of this drug, according to Wockhardt.

In an interaction with CNBC-TV18 in September, Wockhardt’s Habil Khorakiwala said that he expects the WCK 5222 to be in the global markets by 2026 and that there are 700,000 patients in the US that could require this drug.

Shares of Wockhardt are up 10% at ₹1,536.6.

The stock is up 227% so far in 2024, which is the best calendar year for the company since 2012, during which the stock had gained 469%. The shares had risen 90% as well in 2023.