Stock Alert: Eiger BioPharmaceuticals Down 15%

(RTTNews) - Shares of Eiger BioPharmaceuticals, Inc. (EIGR) are losing nearly 15% on Monday morning.

EIGR is currently trading at $8.52, down $1.37 or 13.85%, on the Nasdaq.

Eiger announced results of an investigator sponsored study of Peginterferon Lambda-1a in outpatients with mild and uncomplicated COVID-19. The primary endpoint was duration of viral shedding, determined by time to first of two consecutive negative tests for SARS-CoV-2 by qRT-PCR. The secondary endpoint was reducing duration of symptoms and hospitalization in patients with mild COVID-19.

The company said no difference was demonstrated in duration of SARS-CoV-2 viral shedding and time to symptom resolution when compared with placebo. Median time to cessation of viral shedding in both groups was 7 days.