Stock Alert: Kindred Biosciences Gains 17%

(RTTNews) - Shares of Kindred Biosciences, Inc. (KIN), are rising more than 17% Wednesday morning after the company, which develops biologics drugs for pets, announced positive results from the pivotal efficacy study of KIND-030, a monoclonal antibody targeting canine parvovirus (CPV).

The results showed 100% efficacy in the prevention of parvovirus, as well as a mortality benefit in the treated group.

KIND-030 is currently being pursued for two indications in dogs: prophylactic therapy to prevent clinical signs of canine parvovirus infection and treatment of established parvovirus infection.

The studies are expected to be completed by this year-end, with approval expected by early 2021.

Kindred Biosciences stock is currently trading at $5.38. It has traded in the range of $3.10- $11.93 in the last one year.