Aditxt sinks as acquisition target's COVID-19 therapy fails study

Appili Therapeutics

12/11/2021 14:56

** Shares of biotech co  ADTX.O  sinks 28.2% to a record low
of $1.3
    ** Appili Therapeutics  APLI.TO  says global late-stage
trial testing its oral antiviral COVID-19 therapy did not meet
main goal of time to sustained clinical recovery in
mild=-to-moderate patients  urn:newsml:reuters.com:*:nBwbP8CF1a
    ** The therapy, Avigan, is being developed by consortium of
partners including Appili and AiPharma Global Holdings- an
acquisition target of ADTX
    ** Avigan, also known as favipiravir, targets COVID-19 and
other infectious diseases and is being used in countries
including Japan and India, but has not been approved in the
United States
    ** AiPharma holds exclusive rights to Avigan and all
formulations of favipiravir directly, or through its affiliates
worldwide, excluding in Japan - ADTX
    ** "We are reviewing and evaluating the announced results
and data, and will be discussing them with AiPharma Global to
determine the best course of action," stated Aditxt CEO Amro
Albanna  urn:newsml:reuters.com:*:nBwbP8CF1a
    ** ADTX down nearly 13% YTD, up to last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))