Virios Therapeutics (NASDAQ:VIRI) stock is falling hard on Monday after the company revealed results from its Phase 2b study of IMC-1 in fibromyalgia.
IMC-1 is a treatment in development by the company for people suffering from fibromyalgia. The bad news is that the study didn’t result in statistical significance for its primary endpoint of “daily self-reported average pain severity scores.”
However, Virios did include some interesting findings from the clinical trial. That includes better pain management in the second half of the trial compared to the first. Virios notes that the first half of the trial was when Covid-19 vaccinations were not yet in full swing; the second half took place after vaccination rates had increased.
Virios Therapeutics also notes that IMC-1 was well tolerated during the clinical trial. This saw just 4.6% of patients taking IMC-1 drop out due to adverse events. For comparison, 8.1% of placebo patients dropped out of the study.
Virios Therapeutics Isn’t Giving Up on IMC-1
Virios Therapeutics CMO R. Michael Gendreau said the following in a news release:
“Overall, the efficacy data from this trial were not what we had expected […] We will continue to explore IMC-1’s potential as a viable FM treatment option. We would like to thank all of the investigators and patients who participated in FORTRESS for their support of this important research.”
Trading volume for VIRI stock is heavy today on the clinical trial results. Over 1 million shares are on the move as of this writing. That’s a major increase compared to the daily average trading volume of about 27,000 shares.
VIRI stock is down 71% as of Monday morning.
There’s more recent stock market news traders will want to know about below!
InvestorPlace is home to all of the hottest stock market coverage for Monday! That includes what has shares of AutoZone (NYSE:AZO), Take-Two Interactive (NASDAQ:TTWO) and Purple Innovation (NASDAQ:PRPL) stock moving today. You can find out more at the following links!
More Monday Stock Market News
- AutoZone (AZO) Stock Pops as Sales Beat Expectations
- What Is Going on With Take-Two (TTWO) Stock Today?
- Why Is Purple (PRPL) Stock Up 37% Today?
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
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.
