Enzolytics Inc (OTCMKTS:ENZC) is partnering with Scendea USA, Inc. to accelerate the clinical trials and production of ITV-1, an anti-HIV drug. Furthermore, the move could speed up market authorization from the Food and Drug Administration (FDA) and the European Medicines Act (EMA).
Trading Data
On Wednesday, ENZC stock fell 3.43% to $0.0719 with 21.71 million shares, compared to its average volume of 14.21 million shares. The stock has moved within a range of $0.0708 – 0.0795 after opening trade at $0.0766.
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Scendea, which works with biotechnology and pharmaceutical companies, will help the company reduce development costs and time-to-market. In addition, it will guide the company in non-medical and medical trials to enable it to meet requirements by the EMA and the FDA.
Scendea will play a role in the approval process by helping Enzolytics finalize a plan using clinical trials it has previously completed. It will also create a regulatory program for the EU.
Enzolytics Inc commercializes its monoclonal antibodies and propriety proteins to treat severe infectious diseases. ITV-1, which the company has clinically tested, can effectively treat HIV. The drug can also improve immunity. ITV-1’s active ingredient is Inactivated Pepsin Fraction (IPF).
In addition, Enzolytics is using its technology to treat infectious diseases such as diphtheria, tetanus, influenza B, influenza A,rabies, HIV, and coronavirus by producing monoclonal antibodies.
Technical Data
ENZC stock is below the 20-Day and 50-Day Moving averages of $0.0850 and $0.1117 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1561. The stock is down 38% in the past month.
