Kamada: Rises on supply deal with Israel for experimental COVID-19 treatment

Kamada

19/10/2020 13:32

** U.S.-listed shares of Israel-based drug developer
 KMDA.TA   KMDA.O   rise 10.2% to $8.76 premarket
    ** Co signs a supply deal with Israeli Ministry of Health
(MoH) for its investigational plasma-derived hyperimmune
immunoglobulin (IgG) treatment for COVID-19 patients in Israel
 urn:newsml:reuters.com:*:nL8N2HA3MK
    ** Treatment to be regulated by the MoH and co plans to
supply initial order in early 2021 which could treat ~500
hospitalized patients 
    ** KMDA expects to generate ~$3.4 mln in revenue during Q1
2021 from the supply order and will manufacture the product from
convalescent plasma collected and supplied by the Israeli
National Blood Services and additional Israeli medical
institutions  urn:newsml:reuters.com:*:nASA018VU
    ** Interim results from the ongoing Phase 1/2 clinical trial
in Israel showed the IgG therapy demonstrated favorable safety
profile and symptoms improvement in hospitalized, non-ventilated
COVID-19 patients with pneumonia
    ** U.S. clinical development of the co's potential treatment
is expected to begin in early 2021 pending FDA's IND acceptance
    ** As of last close, stock up 16.4% YTD

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))