CytoTools share: COVID-19 news causes price jump – the details

On Friday morning there is a significant price jump in the CytoTools share. This is currently quoted in XETRA trading at EUR 24.20 with an increase of more than 18 percent, the previous daily high is quoted at EUR 24.50. The price rally of the past few weeks continues. Cytotools share jumps over the strong technical resistance at 20.60 / 20.70 euros, which further stimulates the upward movement.

The jump in price was triggered, however, by a message from the Darmstadt company about the series of tests with the active ingredient DPOCL for the treatment of COVID-19 infections, which were carried out at the Institute for Medical Virology at the University Hospital Frankfurt. “The test results confirm the clearly virucidal (” virus-killing “) effect of the active ingredient on the Sars-Cov-2 pathogen that causes COVID-19,” said CytoTools on Friday morning. However, it is currently still in the preclinical test stage, so it is still in an early phase of testing the active ingredient.

“The test results underline the very good effectiveness of DPOCL and, together with the data already available on DPOCL, suggest that the active ingredient is well tolerated. With the preclinical data already available from DPOCL, the first investigations in humans can now be started immediately ”, says CytoTools. In India DPOLC is already being used as an active ingredient in a wound healing preparation for the indication of diabetic foot further tested in clinical studies.

DPOCL is now set to be tested in human clinical trials for the treatment of COVID-19. “With the active ingredient, we could now have a very promising therapeutic approach in hand, which can prevent COVID-19 disease by means of a very gentle disinfection of the lungs. Corona viruses that are inhaled into the lungs would be killed immediately by the active ingredient, ”says Mark-Andre Freyberg, CEO of CytoTools. “In order to bring the active ingredient onto the market as quickly as possible as part of a fast track, we have already started looking for a suitable partner. We hope to be able to finalize this as early as the first quarter of 2021 in order to be able to start the approval process as quickly as possible, ”said the manager.

More about biotech stocks on 4investors: click here

At a glance – chart and news: CytoTools

Related Articles

Back to top button