Edesa Biotech Stock Is Rallying After COVID-19 Antibody Data: What You Need To Know

Edesa Biotech Inc EDSA has announced positive results from the Phase 2 part of an ongoing Phase 2/3 study evaluating EB05 as a single-dose treatment for hospitalized COVID-19 patients.
Related Link: Edesa Biotech Provides Update For COVID-19 Antibody Trial.
An independent Data and Safety Monitoring Board (DSMB) said it identified an important signal between the treatment arms for 28-day mortality and requested that the study be preemptively unblinded.
The DSMB concluded that "a clinically important efficacy signal" was detected and that the study has "met its objective."
The DSMB further recommended the continuation of the study into a Phase 3 confirmatory trial.
The DSMB reported a 28-day death rate of 14.3% (2/14) in the EB05 arm versus 36.8% (7/19) in the placebo arm.
Patients treated with EB05 plus standard of care had a 68.5% reduction in the risk of dying compared to placebo plus standard of care at 28 days.
EB05 was well-tolerated and consistent with the observed safety profile to date.
Price Action: EDSA stock is up 40.8% at $8.28 during the market session on the last check Monday.