Edesa is a biopharmaceutical company that researches and manufactures medicines for immune diseases. As of today, EDSA is trading 35% below the price a month ago, when it was $ 11.90. This worth is also the highest in the last year. The growth was driven by the company reporting excellent Phase 2 data for its monoclonal antibodies. On September 22, it fell sharply to $ 7.82 and since then the cost has been fluctuating at this level. The trading session was closed yesterday at $ 7.71.
A Phase 2 update of an ongoing Phase 2/3 clinical trial evaluating EB05, a monoclonal antibody candidate was announced today. According to the company, patients treated with EB05 + Standard of Care (SOC) had a nearly 69% reduction in risk of death compared to those treated with placebo + SOC for nearly a month. EB05 controls a very active and dysfunctional immune response associated with acute respiratory distress syndrome (ARDS), which is the cause of death in COVID-19 in many cases.