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.
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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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