PaxMedica (NASDAQ:PXMD) stock is rising higher on Tuesday as investors celebrate the company’s publication of Phase 2 clinical trial results.
The study was published in the Annals of General Psychiatry and focused on the use of low-dose suramin intravenous infusions as a treatment for Autism Spectrum Disorder (ASD). The study was double-blind and placebo-controlled and lasted for 14 weeks, with the patients being boys ranging in age from four to 15 years.
The results from the study showed positive results in the 10 mg/kg suramin dosage. That includes significant improvements in the Clinical Global Impressions-Improvement scale when compared to the group taking a placebo.
Investors are excited about the potential for PaxMedica to treat symptoms of ASD. That has resulted in heavy trading of PXMD stock on Tuesday, with some 23 million shares changing hands. For the record, its daily average trading volume is closer to 141,000 shares.
https://investorplace.com/2023/11/why-is-paxmedica-pxmd-stock-up-95-today/
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