Why Veru Stock Skyrocketed Today
Shares of Veru (NASDAQ: VERU) soared 182% on Monday after the biopharmaceutical company announced promising clinical study results for sabizabulin, its oral drug candidate for COVID-19.
An interim analysis of a phase 3 clinical trial showed that sabizabulin reduced the risk of death in hospitalized patients by 55%. These people had moderate to severe COVID-19 and were at high risk for acute respiratory distress syndrome (ARDS), an often-fatal condition in which fluid leaks into the lungs and prevents oxygen from getting to vital organs.
Better still, the drug was well tolerated by the roughly 210 patients in the study, with no clinically relevant safety events compared to placebo.
Source Fool.com
