Virios Therapeutics (NASDAQ:VIRI) stock is rocketing higher on Tuesday following an update on its planned Phase 3 clinical trial of IMC-1.
IMC-1 is Virios Therapeutics’ lead drug candidate in development for the treatment of herpes virus replication. The goal of this drug is to reduce virally promoted fibromyalgia disease symptoms in patients.
The big news today is the Food and Drug Administration (FDA) giving initial feedback on the Phase 3 FM program proposal from Virios Therapeutics. This has the company moving forward with plans to submit its final toxicology reports to the FDA in May 2023.
Here’s a statement from Virios Therapeutics concerning the Phase 3 study:
“There is significant unmet medical need in the FM patient community, as reflected by the fact that existing treatments do not work for all patients and no new pharmaceutical treatments have been approved by FDA to treat FM over the past decade. The Company will provide material progress updates as it continues to work with FDA with the goal of advancing IMC-1 into Phase 3 development as a potential new treatment option for the FM patient community.”
VIRI Stock Movement Today
With this news, VIRI stock is seeing some 9.7 million shares change hands as of Tuesday morning. That’s incredibly heavy trading compared to the company’s daily average volume of about 805,000 shares. That has shares of VIRI stock up 91.9% as of Tuesday morning.
Investors looking for more of the latest stock market news are in luck!
We’ve got all of the hottest stock market news traders need to know about on Tuesday! That includes the biggest pre-market stock movers this morning, the latest on market crash alert, and more. You can learn all about these topics at the following links!
More Tuesday Stock Market News
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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.
