Why Verve Therapeutics Zoomed 40% Higher This Week
Good news from the laboratory and a clutch of bullish analyst notes were the drivers behind Verve Therapeautics' (NASDAQ: VERV) big stock price leap this week. By the time the dust cleared, the biotech company's shares soared 40% higher over the period, according to data compiled by S&P Global Market Intelligence.
Verve is a clinical-stage biotech, so its success depends on how it's progressing with its pipeline. The indications were quite encouraging this week when the company published initial data from a phase 1b clinical trial of VERVE-102, a drug targeting heterozygous familial hypercholesterolemia (HeFH) -- a genetic disorder that causes high cholesterol levels -- and premature coronary artery disease.
In the trial involving 14 patents, the treatment appeared to be efficacious, particularly in reducing low-density lipoprotein cholesterol (LDL-C) levels in the body. It was also well tolerated with no serious adverse events reported.
Source Fool.com
