Why Vir, Edesa Biotech Shares Are Ripping Higher Today

Among the biopharma movers of the day are immunology company Vir Biotechnology Inc (NASDAQ: VIR) and Edesa Biotech Inc (NASDAQ: 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.