Shares of NRx Pharmaceuticals (NASDAQ:NRXP) stock are skyrocketing on Monday following positive news regarding its novel coronavirus treatment.
The pharma firm presented evidence that its drug Zyesami (aviptadil) helps in “preventing the sharp rise in cytokines, commonly associated with mortality in patients with Covid-19.” This comes after the companies’ most recent trial in which those who received the placebo saw their interleukin 6 (IL-6) cytokine levels rise. Meanwhile, the patients treated with Zyesami saw a minimal increase in IL-6.
Overall, according to NRx, the “[c]hange in cytokine level was a prespecified endpoint of the study.” The positive effect of Zyesami was seen in a diverse patient group, where everyone was suffering different levels of the coronavirus and treated in different, physical locations.
Now, NRx has sent its findings to the U.S. Food and Drug Administration (FDA) “as a supplement to its pending application for Emergency Use Authorization.”
Professor Jonathan Javitt, MD, MPH, chairman and CEO of NRx, had this to say about the NRXP news.
“At a time when hospital admissions for COVID are rising worldwide, these placebo-controlled biomarker data suggest that aviptadil may play a critical role in preventing the sudden elevation of cytokines that is associated with mortality. … The lethal impact of ‘cytokine storm’ is associated with mortality in a variety of lethal conditions including Acute Respiratory Distress Syndrome, a common cause of death in sepsis, and amniotic fluid embolus, a primary cause of maternal death during pregnancy.”
NRXP stock was up more than 74% as of Monday afternoon.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Nick Clarkson is a web editor at InvestorPlace.