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Tiziana Shares Fell 4.67% Despite Progress in Developing Foralumab Its COVID-19 Drug

Updated: 27 Sep 2021

Shares of Tiziana Life Sciences PLC (LON: TILS) fell 4.67% after releasing its half-year results showing immense progress in developing its leading drug candidate Forulamab.

The biotech company noted that it had successfully demonstrated that the drug could be administered nasally to directly target the local and lymphatic immune systems.

According to the data collected from clinical and pre-clinical studies, the nasal administration of Forulamab can induce site targeted immunomodulation and anti-inflammatory effects.

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Tiziana further revealed that Foralumab trials had generated pharmacodynamic data points within a clinical dose range that the firm intends to test among multiple sclerosis patients.

The firm is also in phase II proof-of-concept testing of Forulamab’s effectiveness in treating COVID-19 patients within a hospital environment.

Tiziana recently agreed to a partnership with Precision Biosciences to assess whether Foralumab can be used to improve the long-term effects of CAR-T therapy.

The biotech firm reported £38.6 million cash at the bank as of June 30, 2021, but clarified that it is still carefully managing its working capital position.

Tiziana also revealed that it made a £12.6 million loss during the six months due to its massive investments in its research and development activities.

Tiziana share price.

IG chart of Tiziana share price 27-09-2021

Tiziana shares fell 4.67% to trade at 51p, falling from Friday’s closing price of 53.50p.

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