Stock Alert: Kamada Trading 7% Higher On Positive Data From Its Covid-19 Drug

(RTTNews) - Shares of drugmaker Kamada Ltd. (KMDA) are climbing more than 7% Tuesday morning after reporting positive initial interim results from the ongoing Phase 1/2 study of its drug candidate for the treatment of Covid-19.

The study showed that symptoms improved in 11 out of 12 patients who are treated with the company's anti-SARS-CoV-2 plasma-derived hyperimmune immunoglobulin (IgG) product. All the 11 patients were discharged from the hospital within 4-5 days of treatment.

Top-Line Results are Expected to be Available by January of 2021.

KMDA stock is currently trading at $9.40. It has traded in the range of $4.40- $13.33 in the past one year.