Stock Alert: Bellerophon Shares Soar 42% In Pre-Market

(RTTNews) - Shares of Bellerophon Therapeutics Inc. (BLPH) are soaring over 42% in pre-market today, after the company announced that expanded access treatment with the INOpulse inhaled nitric oxide system (iNO) was initiated for the first time in a patient with a diagnosis of the novel coronavirus disease (COVID-19) at the University of Miami School of Medicine.

The treatment follows the recent decision by the U.S. Food and Drug Administration (FDA) to grant emergency expanded access that allows INOpulse to immediately be used for the treatment of COVID-19 under the care and supervision of their physician.

Bellerophon is currently developing INOpulse for multiple unmet cardiopulmonary indications. The company recently announced positive top-line results from its Phase 2 studies for the treatment of pulmonary hypertension associated with pulmonary fibrosis (PH-PF) and plans to initiate a pivotal Phase 3 study in PH-PF.

The stock has been trading in the range of $3.19 - $26.00 for the past one year, and closed Friday's trade at $12.67, up $1.30 or 11.43%. BLPH is currently trading at $18.05, up $5.38 or 42.46% in the pre-market trading session.