Shares of NanoViricides, Inc. (NNVC) are up 8% on Monday after the company informed that the Phase 1a/1b Human Clinical Trial of NV-CoV-2, the Company's broad-spectrum antiviral drug, is successfully being developed.
NNVC is trading on the New York Stock Exchange at $1.39, up 8.20% or $0.10 per share. It has traded between $1.04 and $2.58 in the past 52-week period.
The Company's collaborator and drug sponsor, Karveer Meditech verified that healthy volunteers in the Phase 1a Single-Ascending-Dose ("SAD") and Phase 1b Multiple-Ascending-Dose ("MAD") in the clinical trial have completed the study, without any adverse or serious adverse events.
The company also said that the recruitment for Phase 1b Part of the treatment of COVID patients is set to begin soon.
The broad-spectrum antiviral drug, NV-CoV-2 with its active pharmaceutical ingredient, NV-387 is effective for the treatment of COVID caused by SARS-CoV-2 coronavirus.
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