Arca Biopharma: Surges On Fda Nod To Begin Potential Covid: 19 drug trial

Oruka Therapeutics

07/10/2020 14:01

** Shares of biopharmaceutical co  ABIO.O  rise ~14% to
$5.90 premarket
    ** Co says U.S. FDA has approved its application to begin
clinical trial of its experimental drug, AB201, as potential
treatment for patients hospitalized with COVID-19  urn:newsml:reuters.com:*:nASA017XD
    ** ARCA expects to begin mid-stage trial in Q4; set to be
followed by a late-stage trial that is dependent on mid-stage
study data
    ** Data from trials expected in Q2 2021
    ** AB201 has shown anticoagulant effect in earlier trials
for different indications
    ** Prior AB201 results treating Ebola and Marburg viral
infections in non-human primate trials support development as
treatment for RNA virus associated disease - ABIO
    ** Stock fell 9.2% this year, as of last close

 (Reporting By Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))