Eiger BioPharmaceuticals to not submit COVID drug application; shares plunge

Eiger Biopharmaceuticals

05/10/2022 14:05

** Eiger BioPharmaceuticals shares  EIGR.O  fall 20.3% to
$5.89 premarket
    ** Says will not submit an application for EUA of
peginterferon lambda for treatment of patients with
mild-to-moderate COVID-19 following feedback from FDA
 urn:newsml:reuters.com:*:nPn48flQha
    ** Adds FDA suggested co consider requesting a meeting after
mid-stage trial to discuss a late-stage trial that could support
a full approval instead
    ** EIGR evaluating next steps for this program in U.S. and
EUA pathways for regulators outside U.S.
    ** All 5 brokerages covering EIGR rate the stock "strong
buy"; their median PT is $28
    ** Up to Tuesday's close, stock had risen 42% YTD
 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))