Why Veru Stock Is Skyrocketing Today
Shares of Veru (NASDAQ: VERU) had skyrocketed 29.5% higher at 11:38 a.m. EST on Monday. The big jump came after the company announced promising results from a phase 2 study evaluating experimental drug VERU-111 in treating patients with COVID-19 who are at high risk for acute respiratory distress syndrome (ARDS).
It's not unusual at all for biotech stocks to soar after reporting great clinical results. And Veru's results were pretty great.
Image source: Getty Images.
Source Fool.com