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MGC Pharmaceuticals Shares Rally On ArtemiC Covid-19 Study Results

Updated: 7 May 2021

MGC Pharmaceuticals (LON: MXC) share price is climbing on Friday after the company announced further results from the Phase 2 clinical and preclinical studies on ArtemiC.

The study evaluated the efficacy on anti-inflammatory agents for increased cytokine, which is found in different variants and mutations of COVID-19 and post COVID-19 syndrome. Cytokine storm is believed to be the main reason for mortality in COVID-19 patients.

“Preclinical and clinical results to date support ArtemiC being effective for addressing cytokine overproduction in all tested COVID patients,” stated MGC.

The preclinical trial study of the efficacy of Artemic Treatment in ARDS Model in mice was performed in the SIA preclinical Lab in Israel. The results demonstrated decreased blood and BALF cytokine levels in the study arm treated by Artemic.

The Phase 2 trial results showed that ArtemiC demonstrated efficacy in COVID-19 infected patients. In addition, patients in the treatment group fully clinically recovered within 15 days of follow up.

MGC also stated that once the inflammation process associated with COVID-19 is under control, the effects of ‘long COVID', the post-COVID syndrome, should be minimised.

The company is continuing the preclinical development of ArtemiC.

Roby Zomer, Co-founder and Managing Director of MGC Pharma, said: “The findings from the phase II clinical trials which are supported by the completed preclinical trial results, continue to demonstrate the effectiveness of ArtemiC™ in treating patients with different variants of COVID-19.

“We are now looking to get ArtemiCTM into more territories as a supplement and herbal health product following these findings.”

MGC Pharmaceuticals share price is currently trading 4.85% above Thursday's close at 3.808p.

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