Ultra-thinly traded nano cap Immunic (NASDAQ:IMUX) jumps 16% after hours on the heels of its announcement that lead candidate IMU-838 has demonstrated activity against SARS-CoV-2 in preclinical testing.
The company is working with regulators in the U.S.
and Europe on clarifying an accelerated development path, including
launching a Phase 2 study in moderately ill COVID-19 patients in order
to assess safety and tolerability.
The company says IMU-838 is
an orally available, next-generation immune modulator that dampens the
immune response by inhibiting an enzyme called dihydroorotate
dehydrogenase (DHODH) that plays a key role in intracellular metabolism
of activated immune cells. It is in Phase 2 development for
relapsing-remitting multiple sclerosis.
https://seekingalpha.com/news/3562782-immunic-up-16-after-hours-on-potential-covidminus-19-drug
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