Investors have sent shares of three biopharmas zooming since Friday afternoon based on announcements that they are developing treatments for SARS-CoV-2, the virus at the center of the global COVID-19 outbreak—while a U.S./Australian biopharma today disclosed plans to advance a nanobody-based treatment candidate into clinical trials next month.
The largest increase—67% in early market trading as of 9:50 am, to $3.50 from Friday’s close of $2.10 a share—was enjoyed by AIM ImmunoTech after the Ocala, FL, drug developer focused on immune disorders said today that Japan’s National Institute of Infectious Diseases (NIID) will begin testing the company’s marketed drug Ampligen (rintatolimod) as a potential treatment for COVID-19.
