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ObsEva (NASDAQ:OBSV) stock is soaring higher on Friday despite there not being any noteworthy news today.
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To go along with the increase in price, shares of OBSV stock are also experiencing heavy trading today. That’s resulted in more than 79 million shares of the stock trading as of this writing. That’s a massive spike over the company’s daily average trading volume of 1.2 million shares.
So why exactly are shares of OBSV stock on the rise today? The only recent news from the company is an update that came out on Monday concerning ongoing clinical trials. While that could be behind some of the movement, the update also includes news of a canceled trial in the U.S., which likely wouldn’t please investors.
Either way, potential investors in OBSV stock need to know what they’re getting into. We have a breakdown of the company below to help with that.
ObsEva clinical-stage biopharmaceutical company with a focus on women’s reproductive health.
The company was founded in 2012 and is based out of Switzerland.
ObsEva has several treatments in its pipeline with its lead candidate being linzagolix.
This is a GnRH receptor antagonist designed to manage pain associated with endometriosis
ObsEva is moving forward with its Phase 3 EDELWEISS 3 trial in Europe and the U.S.
However, it had to cancel the Phase 3 EDELWEISS 2 in the U.S. due to enrollment issues.
Even so, it’s still preparing for New Drug Applications for the treatment.
OBSV stock was up 53.8% as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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