Over the course of the past week there has been no news at all about Tiziana Life Sciences PLC (NASDAQ:TLSA), however, the company’s stock has had a rough time and has tanked by as much as 11% during the period.
Considering the fact that there has been no news about the company in recent months, it might be right time for investors to take a look at the last major development about the biotechnology company. Back on June 23 this year, the company announced that it signed an agreement with the worldwide clinical contract research organization or CRO, FHI Clinical for the purpose of conducting the Phase 2 proof of concept study of its product Foralumab in Brazil.
In this study, the tolerability and effectiveness of the product is going to be tested on patients who are hospitalised with severe symptoms of COVID 19 infection and associated pulmonary swelling. It was a major development for the company at the time but at the same time it is also necessary for investors to keep in mind that this particular agreement that was struck in June may not have been the reason behind the fall in the Tiziana stock in the past week.