Iveric Bio (NASDAQ: ISEE) stock is blowing through the roof even though the company didn't have any news to share today. As of 11:07 a.m. EDT on Friday, shares of the clinical-stage biopharmaceutical company were up 56.8% thanks to lackluster results from a potential competitor.
Iveric Bio didn't have anything to say about Zimura, its lead candidate for the treatment of geographic atrophy secondary to age-related macular degeneration. The stock is shooting higher today in response to mixed pivotal trial results that Apellis Pharmaceuticals (NASDAQ: APLS) reported today .
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Here's Why Iveric Bio Stock Is Rocketing Higher Today