Altimmune (NASDAQ:ALT) is up 30% premarket after securing a $4.7M award from the U.S. Army Medical Research & Development Command (USAMRDC) to fund its Phase 1/2 clinical trial of T-COVID, an investigational intranasal immune modulator for the treatment of outpatients with early COVID-19.
Patient enrollment is expected to commence in coming weeks, with data readout anticipated in Q4.
If successful, the Company plans to initiate a Phase 2/3 trial of T-COVID early next year and commence discussions regarding a potential Emergency Use Authorization.
The T-COVID therapeutic program complements the Company’s novel single-dose COVID-19 vaccine candidate, AdCOVID, that utilizes intranasal vaccine technology and has the potential to prevent infection by activating multiple arms of the immune system.
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