Why Alexion's Stock Is Trading Higher Today

Alexion Pharmaceuticals ALXN shares are trading higher on Monday.

The company announced plans to initiate Phase 3 study of ULTOMIRIS in hospitalized patients with severe COVID-19.

Alexion is an American pharmaceutical company best known for its development of Soliris, a drug used to treat the rare disorders atypical hemolytic uremic syndrome and paroxysmal nocturnal hemoglobinuria.

Alexion shares traded up 4.36% at $107.99 on Monday. The stock has a 52-week range between $137.52 and $72.67.

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Alexion Confirms FDA Approval For Soliris