Jiuzi Holdings, Inc. (JZXN) stock prices were up by a promising 23.85% as of the market opening on May 21st, 2021, bringing the price per share up to $0.19 shortly after the trading day commenced.
Closing of IPO
The company announced on May 20th, 2021 the closing of its initial public offering (IPO) of common shares for sale, which had started trading on the Nasdaq Capital Market on May 18th, 2021 under the ticker symbol JZXN. The Chinese energy vehicles franchisor and retailer offered up to 5.2 million shares of its common stock for sale at a price of USD$5 per share. The company forecasts receiving aggregate gross proceeds amounting to USD$26 million before the deduction of expenses related to the offering.
Success of SAVE-MORE
May 20th also saw JZXN report positive day 28 full results from its SAVE-MORE study that focused on hospitalized Covid-19 patients with poor prognosis. The study confirmed the early and targeted use of anakinra as resulting in a 55% relative reduction in mortality and a nearly threefold benefit in preventing progression to severe respiratory failure (SRF).
Efficacy of Anakinra
The treatment also reported an increase in the number of patients discharged from hospitals with no evidence of Covid-19 infection, with patients who received the treatment being 2.8 times more likely to fully recover than patients who had received the placebo. The study included over 600 patients, with the results having been released on MedRxiv and submitted for peer-reviewed publication.
Identifying Unmet Needs
In light of excessive inflammatory responses being a leading cause of disease progression and mortality in Covid-19 cases, JZXN identified an urgent need for medications that target this facet of the illness and prevent its evolution. The highly promising results from early treatment are a critical juncture in the commercialization of anakinra as a treatment during the global pandemic.
Specifics of Anakinra
Patients infected with Covid-19 can suffer severe symptoms which can lead to death on account of an overreaction of the infected patient’s inflammatory response. This phenomenon, often referred to as a cytokine storm, is what anakinra targets in its anti-inflammatory capacity. The drug targets specific cytokines which play an essential role in hyperinflammation induced by Covid-19. To date, no other drug has been approved for the treatment of the Covid-19 inflammatory response.
Future Outlook for JZXN
Armed with a solid liquidity position owing to their successful IPO, JZXN is poised to capitalize on the success of its SAVE-MORE study and push for the commercialization of anakinra. Current and potential investors are hopeful that the commercialization of the first-of-its-kind drug will lead to significant and sustained increases in shareholder value.