At the close of the previous trading session, shares of drug development company Enzolytics Inc (OTC PINK: EZSC) shot up 15.83% to $0.6360. In contrast to the 30-day daily average trading volume of 52.15M, the stock registered a trading volume of 32.53M on Tuesday. Within the last 52-week period, its stock value varied from $0.0001 to $0.9580.
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What does the company do?
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In addition to developing proprietary proteins, the biotechnology company aims to commercialize them for the treatment of debilitating infectious diseases. Studies have shown the ability of ITV-1 (Immune Therapeutic Vaccine-1) to efficiently treat HIV/AIDS. It is one of the company’s flagship compounds in liquid form which is comprised of Inactivated Pepsin Fraction (IPF). Being porcine pepsin extract and one of ITV-1’s most active ingredients, IPF has shown to enhance the immune system’s capability to locate and fight off infection.
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What drove the stock surge?
Yesterday, Enzolytics Inc. announced the results of its in vitro study that demonstrated broad efficacy and low toxicity of the Company’s ITV-1/IPF peptide treatment, an announcement that caused the stock to rise in the Tuesday session. About the conducted study, the company shared that:
- During tests on the human coronavirus 229E strain, the Company’s ITV-1 peptide demonstrated comparable efficacy to Tamiflu while causing approximately 20-fold less toxicity.
- A further test is scheduled to be conducted on the ITV-1/IPF therapeutic to demonstrate its efficacy.
- In Sofia, Bulgaria, Professor Petia Genova-Kalou conducted the recently concluded study at the National Centre of Infectious and Parasitic Diseases.
- In that study, an in vitro testing on cell cultures was used to assess the antiviral capabilities of ITV-1/IPF peptide inhibitor against oseltamivir phosphate (Tamiflu).
- Researchers investigated the effects of ITV-1/IPF against HCoV-229E (human corona virus 229E).
- Although ITV-1/IPF had comparable effectiveness to Tamiflu, its toxicity was 20 times lower.
- ITV-1/IPF displayed reduced toxicity after 96 hours of treatment.
