NanoViricides Inc (NYSEAMERICAN: NNVC) stock rallied 49.9% after results of an animal trial showed that its COVID-19 drug candidate showed promise when encapsulated with Gilead’s remdesivir.
The company has two drug candidates; the first is known as NV-CoV-2, which does not encapsulate remdesivir, while the second is known as NV-CoV-2-R, which is similar to NV-CoV-2 but encapsulates remdesivir.
Nanoviricides’ noted that the animal trial showed that double the remdesivir was retained in the blood plasma when administered NV-CoV-2-R compared to when Remdesivir was administered independently on the very first day.
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The levels of Remdesivir retained in the blood kept rising with repeated dosing, with the level of remdesivir maintained in blood plasma after the fifth dose being 75% higher in the NV-Cov-2-R group compared to the remdesivir group.
As a bonus, the study revealed that the increased retention of remdesivir did not result in a corresponding increase in blood plasma toxicity.
Investors cheered the results, which indicate that NV-CoV-2-R could be a tremendous pan-coronavirus cure in the future.
Nanoviricides (NNVC) stock price.
NNVC stock rallied 49.86% during the premarket session to trade at $5.68, rising from Monday’s closing price of $3.79.
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