Nabriva Therapeutics Up Big Following Positive Phase 3 Trial Of Oral Lefamulin

Nabriva Therapeutics plc - Ordinary Shares NBRV shares were trading higher by $4.14, or 60 percent, at $11.00 in Monday's session in Monday's session.

Before the open, the company announced its Phase 3 trial evaluating IV and Oral Lefamulin has met all its primary FDA and EMA endpoints for the treatment of serious infections. Nabriva investors may not have been anticipating such a positive result, as the stock declined in Friday's session from $8.48 to $6.86.

After a much higher open, Nabriva continued in that direction before peaking at $14.10 and then reversed course. That marked the highest level for the stock since late September 2015, when it peaked at $14.82.

The quick windfall in profits coupled with Friday's price action has investors exiting the stock in a big way. Since making its early morning high, it has continued to make new lows for the day, with the current one standing at $10.73 as of 10:56 a.m. ET.

Today's price action is taking place on monster volume, as nearly 7 million shares have traded with five hours remaining in the session compared to its 20-day average of a meager 387,000.