Why Veru Stock Is Soaring

Veru Inc VERU shares are trading higher Wednesday after the company announced the publication of the results from a Phase 3 COVID-19 study evaluating the efficacy and safety of oral sabizabulin for the treatment of hospitalized moderate-severe COVID-19 patients at high risk for acute respiratory distress syndrome and death.

Sabizabulin is a novel dual antiviral and anti-inflammatory agent. The Phase 3 trial evaluated once-a-day dosing of sabizabulin versus placebo in approximately 210 hospitalized COVID-19 patients.

Veru said Sabizabulin treatment resulted in a clinically and statistically meaningful 55.2% relative reduction in deaths in the intent to treat population. Sabizabulin also had a significant and clinically meaningful reduction in days in ICU, days on mechanical ventilation and days in the hospital. 

Veru is a biopharmaceutical company focused on developing novel medicines for COVID-19 and other viral and ARDS-related diseases, as well as for the management of breast and prostate cancers.

See Also: Why Exxon Mobil Shares Are Diving Again Today

VERU Price Action: Veru has a 52-week high of $17.50 and a 52-week low of $4.34.

The stock was up 13.6% at $13.09 at press time, according to data from Benzinga Pro.

Photo: fernando zhiminaicela from Pixabay.