Why Molecular Partners Stock Crushed the Market Today
The world is anxiously waiting for more-effective weapons against the coronavirus, so it was little wonder that the stock of Molecular Partners (NASDAQ: MOLN) shot more than 30% higher on Monday. The German biotech, along with its partner Novartis (NYSE: NVS), had some potentially excellent news to report about their pipeline drug targeting the still-raging disease.
Molecular Partners and Novartis announced that the initial part of a phase 2 clinical trial evaluating intravenous dosing of that drug, ensovibep, met its primary endpoint of viral load reduction. This included all tested variants of the coronavirus, particularly the still-rampaging omicron.
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Source Fool.com
