Stock Alert: Enlivex Soars On Positive Results From Its Covid-19 Drug

(RTTNews) - Shares of clinical-stage immunotherapy company, Enlivex Therapeutics Ltd. (ENLV) are surging nearly 70% Thursday morning after the company reported positive top-line results from the study of its Covid-19 drug candidate, Allocetra.

The investigator-initiated study of Allocetra included five Covid-19 patients- three in severe condition and two in critical condition. All five patients had complete recovery from their respective condition and were released from the hospital, following administration of Allocetra, Enlivex said

There were no reported severe adverse events relating to the administration of Allocetra in the patients, and the therapy was well-tolerated, the company noted.

The company plans to start phase IIb study of Allocetra in the fourth quarter of 2020.

Enlivex stock is currently trading at $10.07. It has traded in the range of $3.59- $27.28 in the last one year.