Shares of Cadila Healthcare Ltd. pared all of their opening losses to trade higher after the drugmaker said it has successfully completed a study evaluating early safety, efficacy and tolerability of a key Covid-19 drug.
Zydus Cadila has successfully completed a phase-2 clinical trial in Covid-19 patients with its biological therapy, Pegylated Interferon alpha-2b, ‘PegiHep’, which significantly increased viral reduction and reduced the need for supplemental oxygen in patients with moderate symptoms, according to an exchange filing. The company will now begin phase III clinical trials in India.
Reacting to the development, shares of Cadila recovered from the day’s low to gain as much as 4.55% at Rs 435.40 apiece. The stock is trading higher for the second straight day, on volumes that are double its 20-day average.
The phase-2 trial was an open-label, randomised, comparator…