Why Vir, Edesa Biotech Shares Are Ripping Higher Today

Among the biopharma movers of the day are immunology company Vir Biotechnology Inc VIR and Edesa Biotech Inc EDSA, which focuses on developing therapies for inflammatory and immune-related diseases.

Vir Surges On Positive Phase 1 HBV Study: San Francisco-based Vir announced positive topline results from the Phase 1 study of VIR-3434, its investigational asset to treat chronic hepatitis B virus infection.

Data from the first blinded cohort of eight patients showed that six of eight patients achieved a mean reduction of 1.3 log10 IU/mL in serum hepatitis B virus surface antigen by day eight, the day when nadir was achieved in most patients, the company said.

The company said a Phase 2 trial combining VIR-3434 with HBV-targeting siRNA, VIR-2218, is expected to commence in the second half of this year.

Vir shares were rallying 29% to $57.41.

Edesa Gets Nod to Study EB05 In Critically Ill COVID Patients: Edesa said it has received regulatory approval from the FDA and Health Canada to add a sub-study to its ongoing Phase 2/Phase 3 clinical study of its investigational drug, EB05, for the treatment of acute respiratory distress syndrome in COVID-19 patients.

The sub-study will evaluate the drug as a potential rescue therapy for critically severe COVID-19 cases.

"This sub-study will allow us to potentially expand the use of EB05 to critically ill patients suffering from profound, medically refractory COVID-19 respiratory failure," said Dr. Par Nijhawan, CEO of Edesa.

Edesa was soaring 32.19% to $7.31.