Shares of Veru (NASDAQ: VERU) surged 16.8% on Tuesday, after the biopharmaceutical company submitted an Emergency Use Authorization (EUA) application to the U.S. Food and Drug Administration (FDA) for its novel coronavirus oral drug candidate, sabizabulin.
Sabizabulin is a once-daily antiviral and anti-inflammatory treatment for hospitalized patients with moderate to severe COVID-19, who are at high risk of acute respiratory distress syndrome. ARDS is an often-fatal condition that makes it difficult for people to breathe without a ventilator.
"COVID-19 new cases and hospitalizations are on the rise again with a summer and fall-winter peaks expected," Veru CEO Mitchell Steiner said in a press release. "Unfortunately, the death rate in hospitalized patients with moderate to severe COVID-19 who are at risk for ARDS remains and will continue to be unacceptably high with current standard of care."
Source Fool.com