NRX Pharmaceuticals (NASDAQ:NRXP) stock is surging higher on Thursday thanks to recent results from a clinical trial of its Covid-19 treatment.
According to the results, 81% of patients taking aviptadil survived to 60 days following infection. For comparison, that percentage was 21% for patients in a control group getting standard care for the virus.
It’s worth noting that this stud is still small in scale. The aviptadil group was made up of 21 patients with 17 surviving and the control group had 24 patients with only five surviving. Those results were published in the Journal of Infectious Diseases and Treatment.
Jihad Georges Youssef, M.D., Medical Director of Advanced Lung Diseases Program at Houston Methodist J. C. Walter Jr. Transplant Center, as well as the lead author of the study, said this about the results boosting NRXP stock higher today.
“Although randomized, placebo-controlled trials are the gold standard for medical evidence, the findings in this open-label study are remarkably similar to those seen at tertiary care medical centers in the phase 2b/3 trial of aviptadil vs. placebo. Therefore, we view this study as supportive evidence that aviptadil protects the lung against the lethal effects of the SARS-CoV-2 virus.”
NRXP stock is reacting well to today’s news with heavy trading. As of this writing, more than 10 million shares of the stock have changed hands. That’s a massive jump over the company’s daily average trading volume of about 5.4 million shares.
NRXP stock was up 29.7% as of Thursday morning but is down 49.1% since the start of the year.
There’s more stock market news for investors to check out below!
Traders need to stay up-to-date with market happenings and we’ve got the coverage to help with that. This includes why bank stocks are rising higher, this morning’s pre-market stock movers, as well as what happened with Orphazyme (NASDAQ:ORPH) yesterday. You can learn all about these matters at the following links!
More Stock Market News for Thursday
- Bank Stocks: Why BAC, WFC and MS Investors Are Smiling Today
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- ORPH Stock Alert: What’s Going on With Red-Hot Orphazyme Today?
On the date of publication, William White 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.
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