Shares of biotechnology company ContraFect Corp. (NASDAQ:CFRX) are up a massive 42.3% in the morning session today after it was selected to present four posters at the ASM Microbe Conference in Houston, Texas between June 15 to 19.
The company’s data presentation will include CF-370 showcasing ‘efficacious activity in a neutropenic rabbit pneumonia model against an extensively-drug-resistant (XDR) strain of Klebsiella pneumoniae.
Every year, about 700,000 deaths across the globe are related to antimicrobial-resistant infections. ContraFect is focused on applying product candidates developed from its proprietary platform towards addressing life-threatening infections.
The company is presently enrolling subjects in a Phase 1b/2 study of exebacase ‘in the setting of a DAIR procedure’ for chronic prosthetic joint infections of the knee caused by S. aureus or coagulase-Negative Staphylococci (CoNS).
With today’s price gains, ContraFect shares have now jumped about 40.7% over the past five sessions.
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