ProLectin-M Achieves Positive Phase 1b/2a Results in COVID-19, Showing Statistically Significant Viral Clearance
BIXT sits 28% above its 52-week low of $0.034.
Summary
Bioxytran, Inc. announced positive Phase 1b/2a clinical study results for its antiviral drug ProLectin-M in mild to moderate COVID-19. The highest dose demonstrated statistically significant earlier viral clearance and faster clinical improvement by Day 5 compared to placebo, alongside a favorable safety profile. This is a highly material positive development for the micro-cap clinical-stage biotech, validating its lead candidate and its novel galectin-targeting mechanism. The positive data de-risks the program significantly and provides a strong foundation for future development. Investors will now watch for the design and initiation of larger, well-controlled studies to further evaluate ProLectin-M's potential as a first-line antiviral therapy.
At the time of this announcement, BIXT was trading at $0.04 on OTC in the Life Sciences sector, with a market capitalization of approximately $4.3M. The 52-week trading range was $0.03 to $0.23. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Acceswire.