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Stock Alert: ARCA Biopharma Shares Soar 108% In Premarket On AB201 Development Program News

Shares of ARCA biopharma Inc. (ABIO) are rising over 108% in pre-market today, after the company announced a new development program to evaluate AB201 (rNAPc2), a potent, selective inhibitor of tissue factor or TF, as a potential treatment for COVID-19 associated coagulopathy or CAC and the related inflammatory response.

CAC is one of the most serious adverse effects seen in COVID-19 patients. AB201 has previously undergone clinical testing through Phase 2 in more than 700 patients for other indications, generating substantial safety data, which the company believes may enable more rapid development.

ARCA anticipates filing an Investigational New Drug or IND application with the U.S. FDA in the third quarter and initiating late-stage clinical testing in the second half of this year.

The stock has been trading in the range of $2.21 - $8.88 for the past one year, and closed Wednesday's trade at $3.95, down 1 cent or 0.25%. ABIO is currently trading at $8.25, up $4.30 or 108.86% in the pre-market session.

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