Emergent BioSolutions (EBS) - Get Report shares rose Wednesday after the life sciences company and Mount Sinai Health System announced a trial for Emergent’s coronavirus preventative with $34.6 million of support from the Pentagon.
Emergent recently traded at $92.70, up 2.84%, and has surged 71% year to date amid investor enthusiasm for companies involved with Covid treatments.
Its Covid-19 Human Hyperimmune Globulin will go into two Phase 1 studies to support its use for potential post-exposure prophylaxis in individuals at high risk, such as front-line health care workers and military personnel, the partners said in a statement.
“The first study will evaluate safety and pharmacokinetics of three dose levels administered as a single or repeat IV dose in healthy adults,” they said. “The second study, once initiated, will evaluate safety, pharmacokinetics, and pharmacodynamics of two dose levels administered as a single IV dose to adults with SARS-CoV-2 infection, whether asymptomatic or with mild COVID-19.”
The partnership “has the potential to make a significant impact benefiting our front-line health care workers and others who protect us,” said Laura Saward, the head of Emergent's therapeutics business.
As for the Pentagon, “the DOD looks forward to reviewing the results of this important clinical trial and is pleased to support this initiative, which should enhance the nation’s rapid response to COVID-19,” said Douglas Bryce, the DOD’s joint program executive officer for chemical, biological, radiological and nuclear defense.
“Working together through public-private partnerships harnesses expertise from government, industry, and academia, increasing our chances of developing safe and effective medical countermeasures for this, and other biological threats," Bryce added.