Pardes Biosciences Inc said on Monday it will suspend further clinical development of its experimental antiviral treatment pomotrelvir, after the drug failed a mid-stage trial for treating COVID-19, and will explore strategic alternatives which may include a sale of the company.
The drug was being studied as a potential treatment of patients with mild-to-moderate COVID, but it could not achieve below-the-limit detection for infectious SARS-CoV-2 on day three when compared to a placebo a proportion of participants, according to the company.
Based on the study results, the company said it initiated a review of a range of strategic alternatives that may include an acquisition or merger, among others.
https://news.yahoo.com/pardes-biosciences-suspend-covid-19-121808628.html
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