Stock Alert: Edesa Biotech Skyrockets 150%

(RTTNews) - Shares of clinical-stage biopharmaceutical company Edesa Biotech, Inc. (EDSA) are surging more than 150% Thursday morning after the company said it has filed an investigational new drug (IND) application with the FDA to start phase II/III study of its drug candidate, EB05 in hospitalized Covid-19 patients.

The stock touched a new high of $19.10 this morning.

"The submission of the IND for EB05 in COVID-19 patients marks a key step in our plans to extend our planned Phase 2/3 study," said Dr. Par Nijhawan, Chief Executive Officer of Edesa. "We have received positive interest from key opinion leaders regarding our proposed clinical trial and are communicating with hospitals across the country regarding our protocol."