MGC Pharmaceuticals Ltd
MGC Pharmaceuticals Ltd (ASX:MXC) is listed on the Australian Securities Exchange.
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MGC Pharma higher as ArtemiC Phase II clinical trial on COVID-19 patients meets all primary and secondary endpoints
MGC Pharmaceuticals Ltd's (ASX:MXC) (OTCMKTS:MGCLF) (FRA:H5O) Phase II double-blind, placebo-controlled clinical trial for anti-inflammatory treatment ArtemiC, based on Swiss PharmaCan AG MyCell EnhancedTM delivery system technology, on those diagnosed with COVID-19, has met all the Phase II primary and secondary endpoints and demonstrated to improve the clinical recovery of the patients.
The European-based biopharma company specialising in the production and development of phytocannabinoid-derived medicines is now in a strong position to respond to a significant potential increase in the demand for ArtemiC in the immediate future as a supplement, and in the future as part of a Phase III study.
It plans to develop ArtemiC as a pharmaceutical product and future development as an Investigational Medicinal Product (IMP).
MGC shares have risen as high as 32% to A$0.042 cents in early trading on string volume of more than 136 million, approaching the 12-month high of A$0.043.
Progress immediate opportunities
MGC Pharma co-founder and managing director Roby Zomer said: "The results we have seen from ArtemiC to date provide a transformational opportunity for the company.
"The safety and efficacy demonstrated on COVID-19 patients has now opened the opportunity for a whole range of other indications related to cytokine storm.
"The company will now look to progress the immediate opportunities for ArtemiC while continuing to pursue further clinical developments.
Other MGC Pharmaceuticals Ltd news
- MGC Pharmaceuticals to establish joint venture for medicinal products in Russian market
2020-08-25 - MGC Pharmaceuticals interim results of ArtemiC in Phase II trial on COVID-19 infected patients meet all primary objectives
2020-08-20 - MGC Pharmaceuticals receives promising safety and toxicity study results for ArtemiC
2020-07-27 - MGC Pharmaceuticals moves to acquire one of Australia's leading medicinal cannabis clinics
2020-07-20 - MGC Pharmaceuticals selling nutraceuticals subsidiary to US CBD and hemp wellness company
2020-06-18
