Tiziana Life Sciences PLC (NASDAQ: TLSA) was a major gainer in Friday’s session, to close the day with gains of 56.68. This followed news that the company had developed a new investigational treatment for patients suffering from COVID-19. The company’s treatment is made up of direct delivery of anti-IL-6 receptor monoclonal antibodies to the lungs with an inhaler. The company stated that this new treatment was a major step towards the treatment of people with COVID-19. The company further added that its new technology could also be used with other drugs approved by the FDA.
The company stated that people with COVID-19 develop cytokine storms that lead to massive production of inflationary cytokines among other proteins like IL-6, TNF-a, and GM-CSF that lead to lung damage, and death. The company added that of these cytokines, IL-6 was one of the biggest factors in COVID-19 related respiratory complications.
The company further stated that studies done in China have shown that anti-IL6R MABS could be useful in the treatment of COVID-19. It also stated that China’s National Health Commission had already recommended Roche’s Actemra® and Sanofi’s Kevzera® in treating patients with COVID-19.
Commenting on the breakthrough treatment, the company Chairman Gabriele Cerrone stated that, direct delivery of anti-IL-6R MAB to patient lungs is an immediate therapy for people of all ages suffering from COVID-19. He added that the treatment had the potential to become a long-term therapy in stopping progression, and by extension lower the death rate related to COVID-19.
The company CEO Kunwar Shailubhai also weighed in on the issue stating that the company’s treatment was a major step towards finding a solution to COVID-19. He added that the company was looking forward to clinical trials in a real-world environment.
From its price action, TLSA is in a breakout. The stock gapped up and opened the day at $3.70. It then traded between a low of $3.08 and a high of $3.80 before closing the day at $3.40. Volumes in the day stood at 7.86 million.
About Tiziana Life Sciences PLC
Tiziana Life Sciences PLC is a biotech company focused on the development of treatments for oncology and immune-related diseases. It is based in London, United Kingdom.