It was a momentous day for Enzolytics Inc (OTCMKTS:ENZC) as the company came into the news cycle after it announced that it had been successful in completing the first phase of the animal toxicology studies into its anti-HIV product ITV-1.
Trading Data
On Wednesday, ENZC stock fell 1.45% to $0.0340 with 5.82 million shares, compared to its average volume of 5.75 million shares. The stock moved within a range of $0.0330 – 0.0377 after opening trade at $0.0369.
Enzolytics Reports Successful Completion of an MTD Tolerability Study of Its ITV-1 anti-HIV Therapeutic Leading to the Start of a 28-day GLP Toxicology Study
Since the stock may come into focus among investors in the coming days in light of the announcement, it could be a good idea for investors to take a closer look at it. The toxicology report noted that there was no adverse effect even after the maximum dosage of the product had been administered. The report went on to note that the product was safe when the maximum possible dose was administered.
It was a significant new breakthrough for the company since it was the first step that had been completed successfully. Eventually, the company is looking to produce the therapeutic and deliver it for anti-HIV therapy in Africa and Europe.
Moreover, the completion of the toxicology study is also going to allow Enzolytics to launch the product in some countries on the African continent. On the other hand, it will also be used for eventually getting EMA approval for the European Union.
Key Quote
The Company CEO Charles Cotropia stated, “With several platforms providing significant value to the Company and its shareholders, the Company is confident in the future. The Company’s strengths are its multiple technologies that will individually provide effective therapies and treatments for patients and consumers.”
Technical Data
ENZC stock is trading below the 20-Day and 50-Day Moving averages of $0.0363 and $0.0467 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0700.
