In its last trading session, Quanta Inc (OTC Pink: QNTA) closed at $0.0700, up 66.67%. Over the course of the session, 26.07M shares of QNTA stock changed hands, with the Quanta stock price ranging from $0.0476 to $0.1400. News of positive safety and toxicity study results by QNTA’s majority-owned company spiked the surge in QNTA share price.
What does the study unveiled?
Quanta Inc, a direct-to-consumer wellness product portfolio company, is credited for having decades of experience in data collection, utilizing barcodes and RFID technology. QNTA ensures the success of its clients by designing and tailoring solutions for them. Quanta makes use of quantum biology advances to enhance a product’s potency using a cutting-edge technology platform. In December last year, Quanta acquired a majority stake in Medolife, which is one of the leading global biotechnology companies with operations in clinical research, manufacturing, and consumer products.
QNTA announced yesterday that its majority-owned subsidiary managed to get positive results. A safety and toxicity study conducted on Medolife’s polarized drug candidate showed positive results from QNTA’s majority-owned subsidiary, Medolife Rx, Inc.
- Drug candidate was developed from a small molecular peptide found in scorpions, with the objective of treating patients with SARS-CoV-2, or COVID-19.
- In the study in which patients were given Escozine, a polarized solution of a scorpion peptide owned by Medolife, no signs of toxicity were found in any of the individual patients.
- Medical principal investigators conducted the study in Santo Domingo, Dominican Republic.
- Based on the study’s results, Medolife presented its FDA pre-IND preclinical approval application to the FDA on behalf of one group of patients out of 500 participated in the study.
- Escozine was given sublingually to each patient four times a day.
- At the time of administration and afterward, complete blood counts were taken on each patient, where different parameters were measured.
- Tests like hemoglobin (Hb), serum hematocrit, and red blood cells (RBCs) were used to assess whether the drug candidate is safe.
- After administration, no significant differences were observed between the two groups.
- Neither the neutrophils, lymphocytes, monocytes, or eosinophils, nor the white blood cells (WBCs) were found to be different.
- Based on this study, the drug candidate was considered safe and non-toxic.