Why Iveric Bio Is Skyrocketing 24% Today
After reporting 18-month results from a phase 3 trial evaluating the drug Zimura in geographic atrophy on June 15, Iveric Bio (NASDAQ: ISEE) is tapping investors for more cash, increasing the likelihood its cash stockpile can last it through Zimura's clinical-stage development.
In an update last week, Iveric Bio announced that Zimura's use reduced the progression of GA versus placebo. At the 18-month mark, patients receiving the 2 mg dose of Zimura had a 28% relative benefit when compared to the control arm of the study.
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Source Fool.com