MGC Pharmaceuticals (MXC) Shares Surged 47.4% Today. Here’s Why?

Key points:
MGC Pharmaceuticals’ share price surged 47%+ on clinical trial results.
The bio-pharma company reported positive ArtemiC Support® study results.
What comes next for MGC Pharma, and should you buy its shares? Read on.

The MGC Pharmaceuticals Ltd (LON: MXC) share price surged 31.9% after announcing positive results from a clinical trial of its ArtemiC Support® proprietary drug as a treatment for Long COVID symptoms.

The study demonstrated that ArtemiC Support® was effective in reducing Long COVID symptoms such as shortness of breath, loss of sense of smell, abnormal physical weakness or lack of energy, loss of sense of taste, headache, cough, and mental confusion.

Also read: Five Best Pharmaceutical Stocks To Watch In 2022.

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Long COVID refers to the symptoms that some patients develop after being infected with COVID-19, also known as Post-Acute COVID Syndrome. The study was conducted on 150 patients under the supervision of their doctors.

MGC Pharma prescribed a six-week treatment course conducted as an open-label study on patients with ongoing health problems four or more weeks after being infected with SARS-COV-2, which causes COVID-19.

The clinical trial results showed that ArtemiC Support® had statistically significant efficacy in reducing the severity of Long COVID symptoms.

MGC Pharma’s ArtemiC™ is a clinically tested food supplement (nutraceutical, dietary supplement, natural health product) that contains natural ingredients. The nutraceutical, developed by MGC Pharma, incorporates Swiss PharmaCan AG’s award-winning MyCellTM technology.

Investors cheered the news given that the clinical trial was conducted by a third party and based on previous trials of ArtemiC™, which demonstrated its effectiveness as a COVID-19 treatment in phase II double-blind, placebo-controlled study.

Those wondering what comes next for MGC Pharma should know that ArtemiC Support® could be approved as a long COVID treatment and become a significant revenue generator for the company.

So, should you buy MGC Pharma shares? The short answer is not now, given how much they have rallied today. The best option for people who missed out on today’s rally is to wait for a pullback after the rally is exhausted before buying.

*This is not investment advice. Always do your due diligence before making investment decisions.

MGC Pharmaceuticals share price.

MGC Pharmaceuticals’ share price surged 47.42% to trade at 1.43p, rising from Wednesday’s closing price of 0.97p.