Why PaxMedica (PXMD) Stock Is Up Over 100% Today

PaxMedica Inc PXMD shares are trading higher by 175% to $8.39 Tuesday morning after the company announced research findings in the Annals of General Psychiatry regarding a study on low-dose suramin intravenous infusions as a potential treatment for Autism Spectrum Disorder.

The study involved 52 boys aged 4-15 with moderate to severe ASD and demonstrated promising results in improving core symptoms, particularly with the 10 mg/kg suramin infusion.

The study's main objective was to assess the effectiveness and safety of suramin intravenous infusions. The group receiving a 10 mg/kg suramin dose showed promising improvements in core symptoms.

Additionally, statistically significant enhancements were observed in the Clinical Global Impressions-Improvement (CGI-I) scale in this 10 mg/kg group when compared to the placebo group.

The company says this research represents a significant advancement in understanding ASD treatment options, with the company committed to improving the lives of those with ASD.

See Also: Uber Reports Q3 Results

According to data from Benzinga Pro, PaxMedica has a 52-week high of $69.22 and a 52-week low of $2.50.

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