The strong preclinical results of Novan’s antiviral effect of nitric oxide-based medicine against SARS-CoV-2 puts the company in a place to develop an intranasal formulation of berdazimer sodium for use in coronavirus program.
Shares of Novan Inc. (NOVN) has skyrocketed after the company today announced positive in vitro outcomes reflecting the potential efficacy of its NITRICIL™ platform technology as an antiviral against SARS-CoV-2.
As we write at 1:57 P.M. EDT, NOVN was trading at $0.59 up by 29%. The stock traded high in the premarket before it began trading today at $0.74. Novan lies beside NIO and APPL with the third highest trading volume of 101 million.
The stock made the move after the announcement was made public. This is great progress by the company as it believes that the preclinical results demonstrate high potential for clinical translation. This is the first demonstration of the antiviral effect of nitric oxide-based medicine against SARS-CoV-2 in an in vitro model that mimics the human airway epithelium.
The trials were conducted to evaluate the ability of NITRICIL™ platform technology as a possible therapy for the COVID-19 disease. Novan worked on the in vitro assessments with the aim of reducing viral burden in differentiated normal human bronchial epithelial cells.
The outcomes from the in vitro assessment of concentrations were low around 0.75 mg/mL which showed that berdazimer sodium-reduced 90% of the virus after repeated doses on daily basis.
The Chairman and CEO of Novan, Paula Brown Stafford stated that the COVID-19 pandemic continues to have a significant impact on global health and there is a need for an effective and safe antiviral treatment method that can be a potential cure against the SARS-CoV-2 virus. Brown added:
“The naturally occurring antiviral effects of nitric oxide and the results we have generated from this assessment, provide us with confidence that our NITRICIL™ platform technology may be an effective treatment for COVID-19.”
The studies were conducted by the company at the Institute for Antiviral Research at Utah State University.
The company is looking forward to initiating Chemistry, Manufacturing, and Controls (CMC) work with a global leader to develop an intranasal formulation of berdazimer sodium for use in coronavirus program.
The strong results of the following study have positioned Novan to advance this program into preclinical IND-enabling studies to further evaluate the safety of its NITRICIL™ technology when administered intranasally. The company expects to make a potential IND filing targeted in 2021.