Innovation Pharmaceuticals Inc [OTCQB: IPIX] recorded a gain of 14.67 percent to $0.2626 at the previous close. Volume in IPIX stock was 2.34M compared to the 30-day average volume of 1.19M. IPIX stock value ranged between $0.1550 and $0.5000 over the past 52 weeks. After providing clinical trials for COVID-19, IPIX stock rose.
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What IPIX has updated?
Biopharmaceutical company Innovation Pharmaceuticals is developing innovative therapies for unmet medical needs in inflammatory diseases, cancer, infectious diseases, and dermatology.
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Yesterday, Innovation Pharmaceuticals shared information about its randomized, double-blind, placebo-controlled Phase 2 clinical trial of Brilacidin in hospitalized patients with moderate-to-severe COVID-19, along with related news.
- Taking into account information recently received from vendors, study unblinding, analysis of unblinded data, and release of topline study results for IPIX’s Brilacidin COVID-19 trial are anticipated to occur during the second half of October.
- As a result of the unmet need for COVID-19 therapeutics and ongoing pandemic, IPIX looks forward to learning whether Brilacidin’s multiple properties translate into meaningful clinical results.
- IPIX has received requests for Brilacidin from individual patients under Expanded Access (compassionate use) to treat critically ill COVID-19 patients who haven’t responded to conventional treatments.
- By implementing expanded access, the FDA and Congress seek to make available to physicians potentially lifesaving drugs, before FDA approval, so that they can treat patients with failed treatment options.
- Since receiving these requests, IPIX has supplied Brilacidin for individual patient use to relevant hospitals with FDA approval to administer Brilacidin to patients in an emergency situation.
- The antiviral properties of Brilacidin are not the only reason it may be helpful in treating COVID-19 in hospitalized patients.
- Its immunomodulatory and anti-inflammatory properties also favorably influence treatment outcomes.
- Research on brilacidin’s in vitro antiviral properties continues at multiple universities.
- One academic laboratory has recently reported adenovirus activity against Brilacidin, which complements an earlier report of Brilacidin inhibition of different strains of coronaviruses, alphaviruses, and bunyaviruses (which are enveloped viruses).
How is IPIX progressing?
Brilacidin is the only defensin-mimetic non-peptidic pharmaceutical currently being evaluated for treating COVID-19, the coronavirus responsible for SARS-CoV-2. Brilacidin is being developed for COVID-19 by Innovation Pharmaceuticals (IPIX) under a Fast Track designation from the US Food and Drug Administration.
The dual-acting inhibitor, IPIX, targets viral proteins and host factors, while also exhibiting robust anti-inflammatory and antibacterial effects in vitro (with testing on other viruses underway), supporting Brilacidin’s development as a broad-spectrum antiviral. Antiviral drugs are estimated to reach $44 billion in sales annually by 2026.