In recent times many biopharmaceutical companies have come into focus among investors in a big way and one of those is Relief Therapeutics Holding AG (OTCMKTS:RLFTF).
The stock has come into sharp focus already after a key announcement from the company this morning and soared by as much as 29% at the time of writing. This morning the company announced that the parent’s company of NRx Pharmaceuticals Inc, its collaboration partner, sent out a press release on Monday with regards to the considerable effect that aviptadil had in preventing the rise in cytokines in critically ill COVID 19 patients. It is a significant development for Relief Therapeutics and hence, the strong rally in the stock is perhaps understandable.
As per the press release from NRx Pharmaceuticals’ parent company, the data with regards to cytokine was collected from the Phase 2b/3 trial of aviptadil. During the course of this trial, the response in patients who had been administered with aviptadil were compared to those who had been treated with a placebo.
In addition to that, NRx Pharmaceuticals also announced that these findings were handed over to the United States Food and Drug Administration. The data was handed over as part of a supplement to its existing Emergency Use Authorization with the agency. Additionally, NRx Pharmaceuticals also noted that it has been cooperating with regard to any requests for additional information from the FDA. All this certainly bodes well for Relief Therapeutics, which has to collaborate with NRx on this project and it remains to be seen if the stock continues to add to its gains through the rest of the week.