Why Is Flexion Therapeutics (FLXN) Stock Gaining On Wednesday?

Flexion Therapeutics Inc FLXN expanded the Phase 1b trial of FX301 in patients undergoing bunionectomy.
Related: Flexion Therapeutics To Start Testing FX301 For Post-Op Pain In Patients After Musculoskeletal Surgery.
FX301 is a formulation of a locally administered NaV1.7 inhibitor (funapide) which aims to provide at least three to five days of post-operative pain relief while preserving motor function.
The Company's decision to advance FX301 into the expansion cohort following a review of safety data from an independent Safety Monitoring Committee.
The single ascending dose stage of the Phase 1b trial was designed to evaluate the safety and tolerability of four dosing cohorts of 12 patients each.
In the expansion cohort, an additional 36 patients will be enrolled to further assess the safety, tolerability, systemic exposure, and efficacy of FX301 as a single-injection analgesic nerve block adjacent to the sciatic nerve of the popliteal fossa.
Data from the trial, including the expansion cohort, is anticipated by the end of 2020.
Price Action: FLXN shares are up 12.0% at $5.96 during the market session on the last check Wednesday.