Plus   Neg

Stock Alert: ARCA Biopharma Surges 175% On News Of COVID-19 Treatment

Shares of ARCA biopharma Inc. (ABIO) soared nearly 175% on Thursday morning after the company announced a program for COVID-19 treatment.

ARCA Biopharma is launching a new development program surrounding AB201, a potent selective inhibitor of tissue factor, as a potential treatment for COVID-19 associated coagulopathy and the related inflammatory response, the company said in a statement.

COVID-19 associated coagulopathy is one of the most serious side effects seen in COVID-19 patients. AB201 has undergone clinical testing in a Phase 2 trial including more than 700 patients. The treatment has generated substantial safety data that the company said could speed up the development process.

Michael Bristow, ARCA's CEO, said, "The combination of anticoagulation, anti-inflammatory effects and antiviral activity have the potential to make AB201 a unique therapeutic to treat patients afflicted with COVID-19 while vaccine development is underway and for patients for whom a vaccine is not effective."

ABIO is currently trading at $10.83, $6.88 or 174.18%, on the Nasdaq.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
South Korea's Hyundai Motor Co. announced its decision to suspend production at its Asan plant for two days starting on Monday due to a chip shortage amid the pandemic crisis, Reuters reported. The company is experiencing trouble in supply conditions for semiconductor parts for powertrain control units. The Asan factory manufactures 300,000 vehicles, including the Sonata and Grandeur sedans, each The U.S. Department of Health and Human Services is set to expand its Health Center COVID-19 Vaccine Program to include all HRSA-funded health centers. This will increase the total number of health centers that have been invited to join the program to 1,470 nationwide from the earlier 950. McDonald's Corp. is planning to hire 25,000 workers in its restaurants across Texas in April, reports said. In a three-day event from April 13 to 15, the fast-food chain is expected to hire for crew and management positions. During these hiring days, participating McDonald's restaurants in the state will be accepting applications and interviewing job seekers.
Follow RTT