Why Veru Stock Is Popping Today
Shares of Veru (NASDAQ: VERU) were up by more than 20.6% as of 10:06 a.m. ET Wednesday following the publication of overwhelmingly positive results from a phase 3 clinical trial of the biotech's drug candidate sabizabulin as a treatment for people hospitalized with severe cases of COVID-19.
The results, published in the prestigious New England Journal of Medicine, indicate that patients treated with sabizabulin rather than a placebo experienced a 55.2% relative reduction in mortality, a 26% relative reduction in days spent in the hospital, and a 43% relative reduction in days spent in the intensive care unit. Furthermore, the medicine's side effect profile was found to be adequate, affirming the results from prior clinical trials.
The data mean that Veru's chances of commercializing sabizabulin are quite high, which is important, as the company is also investigating it in a trio of other late-stage clinical trials for indications in certain types of metastatic breast cancer and metastatic treatment-resistant prostate cancer.
Source Fool.com
