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. 

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