Stock Alert: Enlivex Therapeutics Up 14% On Positive Data From Its Allocetra

(RTTNews) - Shares of Enlivex Therapeutics Ltd. (ENLV) are rising more than 14% after the company reported positive top line results from the phase II study of its drug candidate Allocetra in severe and critical Covid-19 patients.

The company expects to submit a summary of the data to regulatory bodies later this month to serve as the basis for a discussion on the next steps in Allocetra's regulatory pathway in COVID-19 patients with severe or critical illness.

"We believe that Allocetra, if approved, could potentially cover the void that currently exists for the treatment of severe and critical COVID-19 patients. COVID-19 vaccines are game-changers in the fight against the pandemic, yet with various surveys demonstrating 25-32% of the population in the United States and major European countries unwilling to get vaccinated, and concerns surrounding various mutant strains of the SARS-CoV-2 virus, our commercial model estimates continued demand for the treatment of severe and critical COVID-19 patients for years to come," Oren Hershkovitz, Chief Executive Officer of Enlivex commented.

ENLV, currently at $14.94, has been trading in the range of $3.59- $16.94 in the last one year.