Pieris Pharma rises on expanding lung disease pipeline, Bavarian govt grant

Palvella Therapeutics

25/06/2021 13:26

** Shares of biopharmaceutical co Pieris Pharmaceuticals Inc
 PIRS.O  jump 18.9% to $5.20 premarket
    ** Co reports development of an oral artificial protein
candidate, PRS-220, for treatment of idiopathic pulmonary
fibrosis (IPF) (https://bit.ly/3vYSkRw)
    ** IPF is a chronic, progressive lung disease which causes
scar tissue to build up in lungs
    ** Co has also been selected to receive a 14.2 mln euro 
($16.97 mln) grant from the Bavarian government to enable
testing of PRS-220 as a treatment for post-COVID-19 syndrome
pulmonary fibrosis, or "long COVID"
    ** Clinical development of PRS-220 for both indications
expected to begin in 2022
    ** Shares of Pieris up 74.8% for the year through last close


($1 = 0.8370 euros)

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