Shares of Quanta Inc. (OTCMKTS:QNTA) have been trading within a narrow range after the recent fall. The stock has lost 16% in the past month.
Trading Data
On Wednesday, QNTA stock flat at $0.0084 with more than 2.87 million shares, compared to its average volume of 3.43 million shares. The stock has moved within a range of $0.0079 – 0.0091 after opening trade at $0.0091.
Final Clinical Trial Data Submitted to DR MoH by Medolife Rx for Escozine as Covid-19 Treatment
Medolife Rx, Inc. a majority of owned subsidiary of Quanta, Inc. (OTCMKTS:QNTA) has made an announcement on January 19, 2022 that the company has submitted final clinical trial data to the Dominican Republic (DR) Ministry of Health regarding approval of their product – Escozine.
Escozine is registered as an alternative oncological medicine in the DR and has shown promising results against variations of the SARS-CoV-2 virus. That is why; the company believes the medicine can be an effective therapy in the fight against Covid-19 and its several variants.
A recent meeting took place between Medolife CEO Dr. Mikaelian and DR Vice-President Raquel Peña de Antuña, where the company was required to present data to various governmental institutions prior to receiving a governmental order for Escozine. The institutions were – Program for Essential Medicines and Logistical Support Center, National Health Insurance, and High-Cost Medicines and Medical Assistance Program.
A video conference was arranged for DR Minister of Public Health Daniel Rivera and members of the Ministry of Health, where Dr. Mikaelian and Medolife Chief Scientific Officer Dr. Khalid Matalka presented the data on Escozine. Dr. Matalka demonstrated Escozine’s mechanism of action as a calcium (Ca2+) ion channel inhibitor, which prevents the SARS-CoV-2 virus from entering the host cell.
The DR Ministry of Health is reviewing the data, upon completion of which, they will approve it as a COVID-19 treatment or just include it in the treatment protocol.
Technical Data
QNTA stock is trading below the 20-Day and 50-Day Moving averages of $0.0095 and $0.0139 respectively. Moreover, the stock is below 200-Day moving average of $0.0425.
