Edesa Biotech: Soars on nod to test drug as rescue therapy for severe COVID-19

Edesa Biotech

26/01/2021 15:26

** Shares of drug developer  EDSA.O  soar ~47% to touch a
more than 2-month high of $8.12; among top pct gainers across
U.S. exchanges
    ** Stock set for best day in more than 5 months
    ** Co receives approval from U.S. FDA and Health Canada to
evaluate its investigational drug, EB05, to treat Acute
Respiratory Distress Syndrome (ARDS) - the leading cause of
deaths in COVID-19 patients
    ** EB05 will be evaluated as a potential rescue therapy for
critically severe COVID-19 cases in a sub-study to its ongoing
mid-to-late-stage trial of the drug, co said
    ** Study to enroll up to 100 ICU patients with severe
COVID-19 symptoms (https://bit.ly/3iVwxWc)
    ** Goal of the experimental treatment is to suppress
inflammation, fluid accumulation and lung injury, thereby
reducing the number of patients admitted to ICU- EDSA
    ** EB05 is already being tested in a mid-to-late-stage trial
in adult hospitalized COVID-19 patients
    ** Stock more than doubled in the last 12 months

 (Reporting by Trisha Roy in Bengaluru)
 ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6182 3635;))