Why Is Iveric Bio (ISEE) Stock Up 56% Today?

  • Iveric Bio (ISEE) stock is rising on clinical trial results.
  • Phase 3 data for Iveric’s Zimura treatment came in positively.
  • This news has the company planning on a New Drug Application (NDA).
ISEE Stock. Various graphical representations of medical imagery are shown in front of a doctor using a tablet computer. DNA stock

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Iveric Bio (NASDAQ:ISEE) stock is rising higher on Tuesday after the biopharmaceutical company revealed positive results from a Phase 3 clinical trial.

This trial covered the use of Zimura in treating patients suffering from geographic atrophy (GA), a chronic disease causing progressive macular degeneration in the eye. GA is connected to late-stage age-related macular degeneration.

Iveric’s clinical trial met its primary endpoint of mean rate of growth in GA over 12 months with statistical significance and a positive safety profile. That includes no cases of endophthalmitis, intraocular inflammation, or “ischemic optic neuropathy events.”

Iveric CEO Glenn Sblendorio said the following about the study in a news release:

“The results from GATHER1 and GATHER2 and our Special Protocol Assessment with the FDA provide the basis for an NDA, which we are planning to submit by the end of first quarter of 2023. We look forward to engaging with the FDA throughout the review process.”

News of these positive clinical trial results is inspiring heavy trading of ISEE stock today. As of this writing, more than 84 million shares have changed hands. That’s a massive leap over the daily average trading volume of about 2.1 million shares.

ISEE stock is up 56% as of Tuesday morning but still down 11% since the start of the year.

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On the date of publication, William White did not hold (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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