Stock Alert: Edesa Biotech Jumps 20%

(RTTNews) - Shares of Edesa Biotech, Inc. (EDSA) are rising more than 20% Wednesday morning at $6.11.

Today, Edesa said, its Chief Executive Officer, Dr. Par Nijhawan is scheduled to participate in a virtual event to discuss the importance of developing multiple countermeasures to the Covid-19 pandemic, including therapies, like Edesa's EB05 drug candidate, that target the overactive host immune response in Covid-19 patients.

The event is organized by Clinical Trials Ontario in collaboration with the Bureau du Québec à Toronto and the Canadian and International Innovation Partnerships Directorate.

The company's lead candidate, EB05, a monoclonal antibody therapy, is in later stage studies in Acute Respiratory Distress Syndrome (ARDS) in Covid-19 patients.

Last week, Edesa had received approval from the Ministry of Health (INVIMA) in Colombia to expand the study of EB05 in hospitalized COVID-19 patients.

EDSA has been trading in the range of $1.58- $19.1 in the last one year.