Reasons why investors should trust Edesa Biotech Inc. (EDSA) for the long-term

Edesa Biotech, Inc. (NASDAQ: EDSA) shares were trending lower in the pre-market as it seems to give back some of its gains from last night’s close. A total of +46.95% has been achieved by the EDSA stock over the past five days, from $5.01 to $9.10. In the past month of trading, this stock has moved from $4.05 to $9.10, a change of +56.16%. For the past three months, this stock’s price changed by +18.17%, trading in the range of $4.05 to $9.10.

Get the hottest stocks to trade every day before the market opens 100% free. Click here now.  

What they do…

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free
Sponsored

Edesa Biotech, Inc. is focused on developing innovative treatments for inflammatory and immune-related illnesses with significant unmet medical needs. Both EB05 and EB01, the company’s leading product candidates, are in late-stage clinical trials.

Read More

What happened…

The company has received FDA / Health Canada approval to add to the ongoing Phase 2/ Phase 3 clinical study of Edesa Biotech (NASDAQ: EDSA) to treat Acute Respiratory Distress Syndrome (ARDS), the leading cause of death in COVID-19 patients. In this substudy, the drug will be examined as potential COVID-19 rescue therapy.

Chief Executive Officer of Edesa, Dr. Par Nijhawan, told physicians involved in the company’s ARDS study that the company identified a group of COVID-19 patients who could benefit from the experimental treatment but weren’t well enough for the main study. Dr. Nijhawan said this sub-study expands the ability to treat critically ill patients suffering from profound, medically refractory COVID 19 respiratory failure.

One sub-study of Edesa is expected to enroll up to 100 in-hospital patients with severe COVID-19 symptoms, including patients receiving extracorporeal membrane oxygenation (ECMO) therapy or being ventilated for more than five days. The sub-study is not expected to affect the design or results of Edesa’s ongoing international Phase 2/3 study.

The Vice President of Research and Development at Edesa, Blair Gordon, PhD., stated that all data would be aggregated and metered together. There will be separate analyses of the sub-study and the main study, which are identical except for the patient enrollment criteria. The study design’s efficiency enables us to efficiently assess the utility of the EB05 across a broad range of hospitalized patients.

Get the hottest stocks to trade every day before the market opens 100% free. Click here now.  

Summary

FactSet Research has revealed that one brokerage house has rated the stock as a buy. No analysts have rated it as a sell or overweight. One analyst has given it a buy recommendation. Meanwhile, the consensus is a buy rating.

Related posts