NEW YORK (TheStreet) -- ContraVir Pharmaceuticals (CTRV) stock is up by 41.61% to $2.11 on heavy trading volume on Tuesday, after the company announced positive results from a study of its hepatitis B virus treatment.
On Tuesday, the Edison, NJ-based biopharmaceutical company announced the results of a third-party study of the treatment, known as CMX157, which is an anti-Hepatitis B drug.
Hepatitis B is a liver infection that can be short-term or long-term, according to the Centers for Disease Control and Prevention.
The study found that the treatment compared favorably to a similar treatment, tenofovir alafenamide fumarate (TAF), the company said in a statement.
"The study findings revealed that CMX157 and TAF were similarly potent against hepatitis B virus (HBV), with CMX157 trending toward higher potency," the company added.
So far today, 2.44 million shares of ContraVir have traded, well above the company's 30-day trading average of about 125,000 shares.