Aridis Pharma gains on Gates foundation funding for COVID-19 therapy

Aridis Pharmaceuticals

27/01/2022 12:09

** Shares of biopharma co Aridis Pharmaceuticals  ARDS.O 
rise 17.8% to $2.30 premarket 
    ** Stock among top pct gainer across U.S. exchanges 
    ** Co says it received a $1.9 million award from the Bill &
Melinda Gates Foundation to support the development of its
inhaled technology to deliver cost-effective monoclonal
antibodies (mAbs) against influenza and COVID-19 to people in
low- and middle-income countries
    ** Co says the award will fund the preclinical development
of stabilized liquid aerosols and room temperature stable
inhalable dry powders containing anti-influenza and
anti-SARS-CoV2 mAbs
    ** Up to Wednesday's close, stock had fallen ~74% in the
last 12 months

 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com;))