Nasus Pharma Ltd. (AMEX:NSRX) shares are down on Wednesday following the company's continuous weakness after the announcement of topline results from its Phase 2 study of NS002, an investigational intranasal epinephrine powder formulation for treating anaphylaxis.

NS002 Phase 2 Hits 1.6-Min Threshold

The Phase 2 study results indicated that NS002 has the potential to exceed EpiPen performance, demonstrating statistically significant improvements in the time to therapeutic threshold.

The study highlighted that NS002 achieved a median time to the critical 100 pg/mL epinephrine threshold of 1.6 minutes, significantly faster than the widely used EpiPen.

What Led To Nasus Pharma's Stock Fall

On Monday, at the five-minute mark, 88.4% of subjects receiving NS002 reached the threshold compared to 64.6% with EpiPen, demonstrating a favorable safety profile with no serious adverse events reported.

When the company released interim data in January, 91% of participants administered NS002 reached the epinephrine plasma threshold of 100 pg/ml at 5 minutes, compared to 67% of those administered EpiPen.

Data released in January showed that NS002 demonstrated a higher mean peak plasma concentration (Cmax) of 655 pg/ml compared to 548 pg/ml for EpiPen, and achieved peak concentration (Tmax) in 10.8 minutes compared to 15 minutes with EpiPen.

Today's data showed that NS002 reached Tmax in a median of 15 minutes compared to 19.8 minutes with EpiPen.

Nasus Pharma Down 60.1% vs 100-Day SMA

Currently, the stock is trading 45.1% below its 20-day simple moving average (SMA) and 60.1% below its 100-day SMA, indicating significant weakness in its price trend.

Over the past 12 months, shares have decreased by 66.18%, and they are currently positioned closer to their 52-week lows than highs.

The RSI is at 28.58, which is considered oversold territory, suggesting that the stock may be undervalued in the short term. Meanwhile, the MACD is at -0.5581, below its signal line of -0.4248, indicating bearish pressure on the stock.

The combination of oversold RSI and bearish MACD suggests mixed momentum, indicating that while the stock is oversold, the overall trend remains negative.

  • Key Resistance: $3.00
  • Key Support: $2.50

NSRX Price Action: Nasus Pharma shares were down 5.02% at $2.65 at the time of publication on Wednesday. The stock is trading near its 52-week low of $2.60, according to Benzinga Pro data.

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