MW Veru's stock rockets after oral COVID-19 treatment leads to 'statistically meaningful' reduction in deaths.
Shares of Veru Inc. rocketed 42% in morning trading Monday, after biopharmaceutical company announced positive results from its Phase 3 trial of its oral COVID-19 treatment.
Veru said patients hospitalized with moderate to severe COVID-19, who were at high risk for adult respiratory distress syndrome ARDS and death, its oral sabizabulin led to a "clinically and statistically meaningful" 55% reduction in deaths.
The Independent Data Safety Monitoring Committee "unanimously" recommended the Phase 3 trial be halted early because of efficacy, with no safety concerns identified. Veru's stock, which had closed at a 16-month low on Friday, has tumbled 26.2% year to date through Friday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments