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Stock Alert: Kiniksa Pharma Gains 20%

Shares of clinical-stage bio pharmaceutical company, Kiniksa Pharmaceuticals, Ltd. (KNSA) are increasing more than 20% Tuesday morning.

The company today announced that mavrilimumab, an investigational, fully-human monoclonal antibody that targets granulocyte macrophage colony stimulating factor receptor alpha (GM-CSFRa), in a treatment protocol, showed positive response in patients with severe COVID-19 pneumonia and hyper inflammation.

To date, 6 patients have been treated with mavrilimumab in the treatment protocol. All patients showed an early resolution of fever and improvement in oxygenation within 1-3 days. None of these patients have progressed to require mechanical ventilation.

A follow-on controlled study in Italy is planned.

KNSA is currently trading at $14.84. It has traded in the range of $5.01- $21.50 in the past 52-weeks.

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