Valeo Pharma Inc. (OTCMKTS:VPHIF) announced on September 14, 2022, about signing a Commercial Services Agreement with Veru Inc. for sabizabulin to treat COVID-19 in Canada. Sabizabulin is a novel dual antiviral and anti-inflammatory agent – it is being targeted for treating hospitalized moderate-severe COVID-19 patients at high risk for acute respiratory distress syndrome (ARDS) and death.
Trading Data
On Wednesday, VPHIF stock jumped 96.33% to $0.4490 with more than 2.90K shares, compared to volume of 190 shares. The stock moved within a range of $0.4490 – 0.4578 after opening trade at $0.4578.
Valeo Pharma Enters Into Canadian Commercial Services Agreement With Veru For Sabizabulin In Hospitalized Adult Patients With Covid-19 At High Risk For Acute Respiratory Distress Syndrome (ARDS)
Steve Saviuk, CEO, Valeo, said that in a crucial Phase 3 study, sabizabulin has shown a statistically significant and clinically meaningful 55.2% reduction in deaths compared to placebo. It has even demonstrated a significant reduction of days in ICU, days on mechanical ventilation, and days in the hospital.
The sabizabulin Phase 3 COVID-19 clinical trial was a double-blind, randomized, placebo-controlled trial conducted in 204 hospitalized COVID-19 patients with moderate to severe COVID at high risk for ARDS and death. Patients in both treatment groups were allowed to receive standard-of-care treatment including remdesivir, dexamethasone, anti-IL6 receptor antibodies and JAK inhibitors. Treatment with sabizabulin 9 mg once daily, an oral, first-in-class, new chemical entity, microtubule disruptor that has dual anti-inflammatory and antiviral properties, resulted in a clinically meaningful and statistically significant 55.2% relative reduction in deaths compared to placebo.
Veru Inc. is all set to pursue an expedited review process with the Canadian healthcare authorities, to make sabizabulin available in Canada, within the shortest possible time frame.
Key Quote
“Provincial healthcare systems across the country are still battling with high numbers of COVID-19 hospitalized patients and related deaths. In a pivotal Phase 3 study, sabizabulin demonstrated a statistically significant and clinically meaningful 55.2% reduction in deaths compared to placebo. It also showed a significant reduction of days in ICU, days on mechanical ventilation and days in hospital,” said Steve Saviuk, CEO, Valeo. “Veru plans to pursue an expedited review process with the Canadian healthcare authorities with the objective of making sabizabulin available in Canada at the earliest time possible.”
Technical Data
VPHIF stock is below the 20-Day and 50-Day Moving averages of $0.41 and $0.45 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.56.
