In a notable development, Noxopharm (ASX:NOX) has lodged a pre-IND (Investigational New Drug) submission for Veyonda® clinical trial in patients suffering from SARS-CoV-2 (COVID-19) infection. The pre-IND submission has been lodged on advice from the U.S. Food and Drug Administration (FDA).
Noxopharm stated that in case the pre-IND is evaluated positively by the FDA, it holds potential for conversion to fully expedited IND. The basis of Noxopharm submission to the FDA is that by inhibiting the cGAS-STING signalling pathway, Veyonda® can prevent a cytokine storm and resulting septic shock.
Consequently, Noxopharm intends to reduce the need for intensive care units and lower the mortality rates in COVID-19 patients.
NOX is trading at $0.215 as at 11:57 AM AEST on 20th May 2020.