Veru Inc (NASDAQ:VERU) shot up 235% at one point on Monday before closing the trading session up more than 180% off Friday’s closing price. On Tuesday, the stock was consolidating the move higher by setting up an inside bar pattern on the daily chart.
On Monday, Veru announced the results for its Phase 3 study of its COVID-19 drug, Sabizabulin, which showed the drug cut the deaths of 55% of hospitalized patients at risk for Acute Respiratory Distress Syndrome. The oncology biopharmaceutical company plans to file an emergency use authorization application with the FDA.
