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.
What does the company do?
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.
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.