SHARES in Spanish pharmaceutical company PharmaMar have surged after scientists confirmed ‘potent preclinical efficacy’ of its drug Aplidin against COVID-19.
The study, printed in peer-reviewed journal Science, suggests its vaccine is potentially effective in preventing people getting ill and works across all age groups.
The news pushed PharmaMar shares more than 20% higher and the Dow to a record.
The drug, approved in Australia for the treatment of multiple myeloma, blocks a protein associated with the COVID-19 virus.
Toxicity of the drug is well known and the doses used in COVID-19 trials are well tolerated in humans, the company said.