Edesa Biotech Jumps Amid Future Use Of EB05 Drug For Phase 2/3 Clinical Study To Treat COVID-19 Patients

As FSD Pharma (NASDAQ: HUGE), Edesa Biotech (NASDAQ: EDSA) soars more than 100% in premarket after announcing a filing IND application for Phase 2/3 clinical trials of its EB05 vaccine to treat COVID-19 victims.

At the beginning of June NASDAQ: EDSA could grow significantly from $2.90 to $5.87 due to studying its drugs to treat COVID-19 patients. Several biotech stocks grew in the same way but their volatilities are very steep.

Before EDSA gets a huge price higher than $100 risk-loving traders may try their lucks on this stock. However, its EPS may become positive in next quarter results, gradually long term goal settlers might buy its shares as well.