(Alliance News) - Tiziana Life Sciences PLC's shares surged on Tuesday, after it posted promising data on a study of its anti-viral Foralumab therapy, touted as a potential treatment for newfound variants of Covid-19.
Shares in the company jumped 22% to 182.15 pence each in London on Tuesday morning, giving it a market capitalisation of just over GBP354.2 million.
In a study on Covid-19 patients in Brazil, Foralumab was found to reduce systemic biomarkers of inflammation.
"Since the anti-inflammatory effect of the nasally administered Foralumab is through the modulation of the immune system and not by directly targeting Covid-19, this therapeutic approach might also be useful for newly identified Covid-19 variants in UK, South Africa and Brazil," Tiziana said.
Covid-19 enters through the nasal and respiratory passage, so nasally-delivered Foralumab can delay progression of the disease, Tiziana explained.
By Eric Cunha; ericcunha@alliancenews.com
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