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Investing.com — Pardes Biosciences Inc (NASDAQ:) expects to begin a mid-to-late stage trial of its new Covid-19 antiviral capsule by mid-year, the corporate mentioned Monday.
The announcement noticed the corporate’s shares initially climb to a excessive of $12.83 on the open, however they’ve since given up these positive factors and extra, at the moment buying and selling down 1.3%.
The information follows the corporate receiving promising knowledge from early human testing. Information from an ongoing early-stage trial exhibits that if taken twice every day, the capsule, PBI-0451, can set off antiviral exercise towards SARS-CoV-2 and any of its rising variants.
Pardes mentioned no critical adversarial occasions have been reported, with solely delicate unwanted side effects, which have been resolved shortly. The corporate added that the drug was properly tolerated throughout trials.
The drug is in the identical class of drugs as Pfizer (NYSE:)’s nirmatrelvir, which is designed to forestall coronavirus replicating in human cells.
“We’re extremely inspired by these preliminary Part 1 observations, which help continued growth of PBI-0451 as a possible stand-alone antiviral remedy for the remedy and prevention of SARS-CoV-2 infections,” mentioned Uri Lopatin, chief government officer of Pardes.
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