The shares of pharma company Veru Inc. jumped more than 25% on Monday on the news the United States Food and Drugs Administration began discussions on approving its COVID-19 treatment.
The FDA's Advisory Committee raised concerns related to "uncertainties" with Veru's oral coronavirus therapy known as sabizabulin ahead of the approval decision delayed from October 6 to November 9. If authorized, the drug will be issued in treating moderate and severe COVID-19 cases at high risk of developing acute respiratory distress syndrome.
Veru's stock on Nasdaq surged 25.70% to $12.94 apiece at 9:49 am ET, and has more than doubled its market value since the start of the year.
