Edesa stock from the Globe and Mail Sept 20th Shares of Toronto drug developer Edesa Biotech Inc.
Shares of Toronto drug developer Edesa Biotech Inc.
EDSA-Q +102.72% increase
soared Monday after it revealed data showing that some of the sickest COVID-19 hospital patients who took its experimental drug greatly improved their chances of survival.
Edesa’s stock price rose by as much as 97 per cent Monday on the NASDAQ after the clinical-stage biotechnology company said COVID-19 patients who received its single-dose antibody treatment in an efficacy trial died at a 68.5 per cent lower rate over a four-week period than those who didn’t.
Two out of 14 people who took its antibody, called EB05, died, while seven out of 19 in the trial who didn’t take the antibody died, according to the independent Data and Safety Monitoring Board, which analyzed the results. All 33 patients were on life-support machines that oxygenated their blood.
The stock price more than doubled on NASDAQ, closing at US$11.92, up 103 per cent.
Share volume on the day exceeded 154 million, more than 11 times the total number of shares outstanding.
EDSA-Q +102.72%increase
soared Monday after it revealed data showing that some of the sickest COVID-19 hospital patients who took its experimental drug greatly improved their chances of survival.