Why Eiger BioPharmaceuticals Stock Is Jumping Today

Eiger BioPharmaceuticals Inc EIGR announced data from the Phase 3 TOGETHER study evaluating Peginterferon Lambda in non-hospitalized COVID-19 adult patients at high risk of progressing to severe illness.
Peginterferon Lambda significantly reduced the risk of COVID-19-related hospitalizations or emergency room visits by 50% (primary endpoint) and death by 60%.
The Phase 3 TOGETHER study of Lambda is the second largest study to date of a COVID-19 therapeutic.
Final analyses evaluated data from 1,936 patients, with 84% of patients receiving at least a single dose of any COVID-19 vaccine.
2.7% of patients (25 / 916) who received Lambda were hospitalized or had ER visits through Day 28, compared to 5.6% of patients who received placebo
42% risk reduction of COVID-19-related hospitalizations was observed when treated ≤7 days of symptom onset, and 60% when treated ≤3 days.
One COVID-19-related death was reported in the Lambda group, and four in the placebo group.
Eiger plans to discuss the results with FDA and submit a EUA as soon as possible.
The Company licensed worldwide rights to Lambda from Bristol-Myers Squibb Co BMY.
Price Action: EIGR shares are up 22.40% at $6.97 during the market session on the last check Thursday.