Why Iveric Bio Stock Is Skyrocketing This Week
Shares of Iveric Bio (NASDAQ: ISEE) were skyrocketing 85.9% this week as of the market close on Thursday, according to data provided by S&P Global Market Intelligence. The big gain came after the company announced positive topline results on Tuesday from a late-stage clinical study evaluating Zimura in treating geographic atrophy, the advanced stage of age-related macular degeneration (AMD).
Iveric reported that its phase 3 Gather2 study of Zimura met the prespecified primary endpoint of mean rate of growth in geographic atrophy area at 12 months. The experimental drug achieved a statistically significant level of improvement, compared to the control group in the study.
The safety profile of Zimura in the clinical trial was also promising. Iveric stated that no events of endophthalmitis (inflammation of tissues or fluids inside the eyeball), intraocular inflammation, or ischemic optic neuropathy (loss of vision due to the interruption of optic nerve blood flow) occurred. The most frequently reported adverse events related to the injection of the drug.
Source Fool.com
