Why Eiger BioPharmaceuticals Stock Is Jumping Today

Vandana Singh
1 min read
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In this article:

  • Eiger BioPharmaceuticals Inc (NASDAQ: EIGR) announced data from the Phase 3 TOGETHER study evaluating Peginterferon Lambda in non-hospitalized COVID-19 adult patients at high risk of progressing to severe illness.

  • Peginterferon Lambda significantly reduced the risk of COVID-19-related hospitalizations or emergency room visits by 50% (primary endpoint) and death by 60%.

  • The Phase 3 TOGETHER study of Lambda is the second largest study to date of a COVID-19 therapeutic.

  • Final analyses evaluated data from 1,936 patients, with 84% of patients receiving at least a single dose of any COVID-19 vaccine.

  • 2.7% of patients (25 / 916) who received Lambda were hospitalized or had ER visits through Day 28, compared to 5.6% of patients who received placebo

  • 42% risk reduction of COVID-19-related hospitalizations was observed when treated ≤7 days of symptom onset, and 60% when treated ≤3 days.

  • One COVID-19-related death was reported in the Lambda group, and four in the placebo group.

  • Eiger plans to discuss the results with FDA and submit a EUA as soon as possible.

  • The Company licensed worldwide rights to Lambda from Bristol-Myers Squibb Co (NYSE: BMY).

  • Price Action: EIGR shares are up 22.40% at $6.97 during the market session on the last check Thursday.

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