Kaleido rises on promising data from potential COVID-19 drug
24/03/2021 12:26
** Shares of drug developer Kaleido Biosciences Inc KLDO.O
up 8.9% at $10.81 premarket
** Co says its oral drug cut recovery time as well as
hospitalizations and emergency room visits in patients with mild
to moderate COVID-19, in an early trial urn:newsml:reuters.com:*:nL4N2LL48G
** Co registered the study with the U.S. Food and Drug
Administration as a trial of a food compound, and not a
therapeutic, adding that it plans to submit an application to
begin clinical trials later this year
** Drug reduced the total number of hospitalizations,
emergency room visits, and urgent care visits by 51% in a study
of 350 patients, when compared to patients who self-manage their
mild-to-moderate COVID-19 symptoms
** Shares have fallen ~24% since co announced prelim data
from the same trial in January urn:newsml:reuters.com:*:nL4N2JP39N
(Reporting by Manas Mishra in Bengaluru)
((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manasmishra24))