Innovation Pharmaceuticals (OTCMKTS:IPIX) jumped 18% after offering additional information about the randomized, placebo-controlled, double blinds phase II clinical study status evaluating Brilacidin in moderate-to-severed COVID-19 treatment in hospitalized patients.
The company is advancing Brilacidin for COVID-19 treatment under a fast track designation. Enrollment in the study ended in June 2021, with the last patient follow-up visit occurring on July 30, 2021. Notably, the subject database is still blinded, focusing on confirming all data recorded at the study sites.
After database lock, unblinded data analysis from the clinical trial will commence by assessing the treatment’s performance relative to placebo. CEO Leo Ehrlich said that they are delighted to learn Brilacidin results in the COVID-19 trials. Ehrlich said that everything is progressing as per industry standards and norms, and they are looking forward to releasing Brilacidintopline findings in COVID-19 treatment immediately after they are available. As the company anticipates Brilacidin trial data release, it is worth watching IPIX in the coming days.
Market Reaction:
On Thursday, IPIX stock soared 18% at $0.3010 with more than 1.92 million shares, compared to its average volume of 1.17 million shares. The stock has moved within a range of $0.2550 – 0.3080 after opening the trade at $0.2550.
