Island Pharmaceuticals Ltd (AU:ILA) has released an update.
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Island Pharmaceuticals Ltd reported significant progress with their lead antiviral drug, ISLA-101, which demonstrated positive pharmacokinetic and safety data in a clinical study and is moving towards a Phase 2 trial in dengue fever. The company has reallocated US$625k of grant funding to support the trial and also announced a term-sheet for acquiring antiviral molecule galidesivir from BioCryst Pharmaceuticals. Closing the quarter with a $1.7m cash position, Island is poised for an exciting period of growth as it begins subject screening and enrollment for the upcoming study.
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