Edesa Biotech Stock Soars 54%: What’s Driving the ARDS Drug Rally Now
Edesa Biotech shares surged 53.9% to $11.17 on Nasdaq Monday, with trading volume near 9 million shares. The spike follows renewed focus on February data showing paridiprubart cut 28-day mortality in ARDS patients to 24% from 33%. CEO Par Nijhawan and principal investigator Ted Steiner are set to present at May ATS meetings. Edesa ended last quarter with $12.1 million in cash and a $68.2 million deficit.