Edesa Biotech said that data from a late-stage study of its experimental drug for the treatment of Acute Respiratory Distress Syndrome affirmed statistically significant mortality reductions.
- The company on Tuesday reported results from a 278-patient population, including 104 patients requiring invasive mechanical ventilation (IMV) as well as 174 non-IMV patients.
- Overall rates of adverse events, serious adverse events, infections and treatment discontinuations were low and similar between the paridiprubart and placebo groups, the company said.
- The company is advancing regulatory discussions and evaluating strategic collaborations and partnership opportunities, the CEO said.
Shares of Edesa Biotech, Inc. jumped 76% on Tuesday after the company announced that data from a late-stage study of its experimental drug for the treatment of Acute Respiratory Distress Syndrome affirmed statistically significant mortality reductions.
Acute respiratory distress syndrome (ARDS) is a life-threatening, rapid-onset lung failure caused by severe inflammation, which fills the air sacs with fluid and restricts oxygen absorption.
The company reported results from a 278-patient population, including 104 patients requiring invasive mechanical ventilation (IMV) as well as 174 non-IMV patients.
Edesa Biotech said that its experimental drug paridiprubart demonstrated statistically significant reduction in 28-day mortality in the full population to 24% from 33%.
Further, treatment benefits were consistent across severity groups and in patients with serious comorbidities. Overall rates of adverse events, serious adverse events, infections, and treatment discontinuations were low and similar between the paridiprubart and placebo groups, the company said.
CEO Expresses Optimism
“The consistency of mortality reduction and clinical improvement across all 278 randomized patients, including less severe patients as well as those with ARDS complicated by acute kidney injury, sepsis and pneumonia, underscores the versatility and transformative potential of paridiprubart to address multiple critical unmet medical needs,” said CEO Par Nijhawan.
The chief also added that the company is advancing regulatory discussions and evaluating strategic collaborations and partnership opportunities which could potentially accelerate development.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment around EDSA stock jumped from ‘bullish’ to ‘extremely bullish’ territory over the past 24 hours, while message volume remained at ‘extremely high’ levels.
A Stocktwits user said that they are now waiting for that “first real surge” in stock price.
EDSA stock has dropped 29% over the past 12 months.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<