PhaseBio Pharma: Surges on go-ahead for COVID-19 drug trial

PhaseBio Pharmaceuticals

27/05/2020 21:36

** Drug developer's shares  PHAS.O  rise 44.3% to $6.38 in
extended trading - biggest gainer across U.S. exchanges  
    ** Says the U.S. FDA has cleared a trial to test its
experimental drug for hospitalized patients with COVID-19, the
illness caused by the new coronavirus  urn:newsml:reuters.com:*:nBw1Ych6La
    ** Co's drug PB1046 targets receptors in the cardiovascular,
pulmonary and immune systems
    ** PHAS expects to begin dosing patients by end of June, and
plans to report results in Q4 
    ** The treatment is being studied in mid-stage trials for
treating pulmonary arterial hypertension 
    ** Stock has lost ~27% this year, as of Wednesday's close 

 (Reporting by Manas Mishra in Bengaluru)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manasmishra24; within U.S. +1 646 223 8780,
outside U.S. +91 806749 2709))