MULN - Why Is Ainos (AIMD) Stock Skyrocketing Today?
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Ainos (NASDAQ:AIMD) stock is gaining on Friday after seeing positive results from hamster trials of its Covid-19 treatment.
These trials saw the company measuring the effectiveness of VELDONA over a 16-day period. Specifically, it targeted the Omicron variant of the virus. The process included five days pre-infection, one day for infection, and 10 days of treatment following the infection.
The results of this clinical trial showed that its Covid-19 treatment was effective at reducing body weight loss after infection. Another benefit was an improved recovery trajectory over the next three days. This was in comparison to a placebo group of hamsters not given the treatment.
Ainos is Also Targeting Other Viruses With VELDONA
Chun-Hsien Tsai, chairman, president and CEO of Ainos, said the following about the clinical trial results.
“Ainos believe that these results, in combination with the results of our previous two Phase 2 studies of VELDONA® on prevention and treatment of influenza, demonstrate that VELDONA® may become an important solution for the treatment of COVID-19 and other viral infections in the future.”
News of the positive clinical trial results has AIMD stock seeing heavy trading today. This has more than 28 million shares of the company’s stock on the move. That’s quite the increase compared to the company’s daily average trading volume of 54,000 shares.
AIMD stock is up 52.5% as of Friday afternoon. However, investors will also note it’s still down 75.9% year-to-date.
There’s plenty more stock market news that traders need to know about below!
InvestorPlace is home to all of the hottest stock market coverage for Friday! Among that is what has shares of Mullen Automotive (NASDAQ:MULN), Aterian (NASDAQ:ATER), and F45 Training (NYSE:FXLV) are moving today. You can catch up on all of that news at the following links!
More Friday Stock Market News
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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