(Alliance News) - N4 Pharma PLC shares plunged on Monday after the pharmaceutical company reported less-than-promising data from recent Covid-19 focused research on its Nuvec drug delivery asset.
The stock was down 39% at 5.90 pence each in London on Monday, having hit a morning low of 5.01p.
N4 is developing Nuvec, its delivery system for cancer treatments and vaccines. The company on Monday reported an update on proof of concept work which saw it use Nuvec loaded with coronavirus plasmid.
N4 said injections of Nuvec loaded with coronavirus plasmid failed to "result in a measurable expression of the spike protein".
However, the company said it will move to a "full in vivo study" anyway. An in vivo probe is one which occurs inside a living organism, contrary to in vitro which takes place outside a living being.
"Additional exploratory studies will continue to understand the translation potency of the Coronavirus plasmid including optimisation of Nuvec plasmid loading. With this in mind and taken together with previous positive data, the company has decided to proceed to a full in vivo study to demonstrate the capability of Nuvec to generate Covid-19 specific antibodies," N4 explained.
"The company is in the process of scoping the programme of studies required."
By Eric Cunha; ericcunha@alliancenews.com
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N4 Pharma Plc (N4P)