Veru Stock Rocketed 42% in Morning Trading
Tiger Newspress2022-04-11
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.
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