Why Veru Stock Is Surging Today

Veru Inc VERU shares are trading significantly higher Monday after the company reported its novel COVID-19 drug candidate reduced deaths by 55% in hospitalized patients in an interim analysis of the Phase 3 study.

The study evaluated the company's oral COVID-19 candidate sabizabulin versus placebo in 150 hospitalized COVID-19 patients at high risk for Acute Respiratory Distress Syndrome.

Sabizabulin treatment resulted in a clinically and statistically meaningful 55% relative reduction in deaths in the intent to treat population. The placebo group had a 45% mortality rate compared to the sabizabulin-treated group which had a 20% mortality rate. Veru said the secondary efficacy endpoints are still being analyzed.

Veru plans to meet with FDA to discuss the next steps including the submission of an emergency use authorization application.

Veru is a biopharmaceutical company focused on urology and oncology.

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VERU 52-Week Range: $4.34 - $11.18 

According to data from Benzinga Pro, the stock was up 44.4% at $6.28 at time of publication.

Photo: fernandozhiminaicela from Pixabay.