Eiger Biopharma (EIGR) Soars 41% on Positive Phase 3 Covid Data

Trade EIGR Stock Your Capital Is At Risk
Ollie Martin
Updated: 17 Mar 2022

Key points:

  • Eiger Biopharmaceuticals skyrocketed 41% on positive Covid vaccine data
  • The company believes that ‘Lambda' can be used for any emerging variants
  • The study revealed a a reduction of death by 60% in the randomized study

The fight against the pandemic might have started to simmer in the public eye, but the fight against emerging variants is still raging behind the scenes. Companies like Moderna and Pfizer have taken up much of the vaccine limelight, yet investment opportunities are still rife amongst their competitors. Today, Eiger BioPharmaceuticals made the headlines; releasing positive information regarding an innovative Covid-19 treatment. 

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The company announced that Peginterferon Lambda, or just ‘Lambda’ significantly reduced the risk of Covid related hospitalizations or emergency room visits greater than 6 hours by 50%, and a reduction of death by 60% in its Phase 3 study. The study was conducted amongst non-hospitalized adult patients with Covid-19 with a serious risk of progressing to severe illness. The study achieved its primary endpoints over all variants tested, including the widespread Omicron. 

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Most importantly, due to Lambda’s effectiveness on the variants tested, it is Eiger’s belief that Lambda will be equally effective against any new variants, a conclusion that has proved problematic to ulterior vaccines in the past. The company hopes to move forward with FDA and EUA approval as soon as possible. 

David Cory, President and CEO of Eiger, noted:

“These data demonstrate that a single subcutaneous injection of Lambda has the potential to be a convenient, ‘one and done' treatment to reduce the severity of COVID-19, reducing hospitalizations and death – even in a vaccinated population”

EIGR currently trades with a 42% daily gain. Investors should be careful of volatility when trading vaccine stocks, a negative response from the FDA could send the stock into a sharp reversal. 

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