Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Kaleido Biosciences (NASDAQ: KLDO) announced the completion of enrollment of 350 subjects into its controlled clinical study K031, evaluating Microbiome Metabolic Therapy candidate KB109 in the treatment of mild-to-moderate COVID-19.
In 2020 the company’s stock price gained over 60%, closing the year out at $9.10 after reaching a high of $11.89 in September.
Monday evening’s announcement has seen its shares climb over 27% to $12.01 following Monday’s close at $9.48.
“This study, which seeks to better understand the potential of KB109 in COVID-19 and expand our understanding of its applicability to other viral infections, is the largest study to be conducted by Kaleido to date,” commented Dan Menichella, President and CEO of Kaleido.
“Reaching this point of full enrollment positions us to deliver on the goal of reporting topline results later this quarter. We also continue to expect topline data from our smaller study of KB109 in the first quarter of 2021,” added Menichella.
Kaleido said KB109 was selected for evaluation in COVID-19 based on its ability to increase microbiome production of short-chain fatty acids, which act as modulators of the immune response.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .