PhaseBio rises on starting mid-stage trial for COVID-19 drug

PhaseBio Pharmaceuticals

17/07/2020 13:35

** Drug developer PhaseBio Pharma's  PHAS.O  shares rise
~10% to $5.15 premarket
    ** Co says it began a potentially pivotal mid-stage study
testing PB1046, its experimental treatment for hospitalized
COVID-19 patients who are at high risk of acute respiratory
distress syndrome  urn:newsml:reuters.com:*:nBw4FjxhPa
    ** The trial will evaluate the safety and effectiveness of
once-weekly subcutaneous injections of PB1046 in about 210
hospitalized COVID-19 patients, co says
    ** Co targets to report results from the trial late in Q4
2020
    ** Up to Thursday's close, PHAS fell ~23% YTD

 (Reporting by Manojna Maddipatla in Bengaluru)
 ((manojna.kalyani@thomsonreuters.com; within the U.S. +1 646
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