Edesa surges as safety panel approves COVID-19 treatment trial

Edesa Biotech

20/09/2021 15:20

** U.S.-listed shares of Canada-based biotech  EDSA.O  open
60.5% up at $9.44 - highest open in more than a year; over 294x
25-DMA shares traded
    ** EDSA says it has unblinded a mid-stage trial of EB05, its
investigational COVID-19 treatment, before schedule based on
preliminary analysis by an independent data and safety
monitoring board (DSMB)  urn:newsml:reuters.com:*:nACSKybpQa
    ** Co says DSMB found its treatment shows a 68.5% reduction
in the risk of dying for patients with severe COVID-19 compared
to standard treatment
    ** Treatment is also found to be generally well-tolerated
and safe
    ** Co says preliminary data shows its treatment is effective
in treating Acute Respiratory Distress Syndrome, a lung injury
condition which is the leading cause of death in COVID-19
    ** DSMB recommends EDSA progress to a pivotal trial;
additionally, EDSA is also looking at expedited regulatory
review options in the United States and Canada
    ** Up to Friday's close, EDSA had risen 38.4% YTD

 (Reporting by Ruhi Soni in Bengaluru;)
 ((Ruhi.Soni@thomsonreuters.com;))