Shares of NRx Pharmaceuticals (NRXP) skyrocketed Monday, after the company announced it will present evidence Wednesday that its drug aviptadil helps treat COVID-19 patients.
Specifically, NRx said the treatment helps prevent cytokine storm. The presentation is slated for the Disease Control and Prevention Summit.
NRx traded at $13.21, up 55% at last check, but has plunged 63% in the last six months.
“The presentation identifies a statistically significant effect of Zyesami (aviptadil) in preventing the sharp rise in cytokines, commonly associated with mortality in patients with COVID-19,” the company said.
“In the recently-completed Phase 2b/3 trial, patients treated with placebo experienced a statistically significant elevation in interleukin 6 (IL-6) cytokine levels, whereas those treated with Zyesami had a minimal increase in IL-6.”
Further, “the anti-cytokine effect of Zyesami was additionally associated with a significant decrease in 60-day mortality,” NRx said.
In other health news, last week an FDA advisory committee recommended against approving Fibrogen’s (FGEN) - Get FibroGen, Inc. Report roxadustat drug for anemia stemming from chronic kidney disease.
The Food and Drug Administration isn’t required to follow an advisory committee's vote, but it generally does.
“While we are disappointed with today's outcome, we believe the scientific evidence supports roxadustat approval in the U.S. and will work with the FDA as it completes its review of the new drug application,” Fibrogen Chief Executive Enrique Conterno said in a statement.
Also last week, the Centers for Medicare and Medicaid Services proposed reimbursement rules that include a 20% cut in physician payments for the Urolift service of medical device company Teleflex (TFX) - Get Teleflex Incorporated Report.