Benzinga | Sep 16, 2020 02:57PM EDT

Why Kindred Biosciences Is Trading Higher Today

Kindred Biosciences (NASDAQ:KIN) shares are trading higher on Wednesday after the company announced results from a pivotal efficacy study of parvovirus monoclonal antibody. Results showed 100% efficacy in the prevention of parvovirus, as well as a mortality benefit.

Kindred Biosciences is a biopharmaceutical company developing innovative biologics focused on saving and improving the lives of pets. Its mission is to bring to pets the same kinds of safe and effective medicines that human family members enjoy.

The company identifies targets that have already demonstrated safety and efficacy in humans and to develop therapeutics based on these validated targets for dogs and cats. It has a deep pipeline of novel biologics in development across many therapeutic classes, alongside biologics manufacturing capabilities and a broad intellectual property portfolio.

Kindred Biosciences shares were up 11.46% at $5.12 at the time of publication on Wednesday. The stock has a 52-week high of $11.93 and a 52-week low of $3.10.