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Island Pharmaceuticals Ltd ( (AU:ILA) ) has provided an update.
Island Pharmaceuticals Ltd has completed the acquisition of the Galidesivir antiviral program from BioCryst Pharmaceuticals ahead of schedule. Galidesivir, a clinical-stage antiviral with a broad spectrum of activity against over 20 RNA viruses, including Ebola and Marburg, has received over $70 million in R&D funding from the US government. The acquisition allows Island Pharmaceuticals to focus on fast-tracking regulatory initiatives, potentially leveraging the FDA’s Animal Rule for drug approval. The company plans to submit documentation to the FDA this quarter, aiming to commence an animal study in Marburg in the next quarter, which could significantly impact their operations and industry positioning.
More about Island Pharmaceuticals Ltd
Island Pharmaceuticals Ltd is an Australian drug repurposing company focused on developing antiviral therapeutics to address infectious diseases. Its lead asset, ISLA-101, is being repurposed for the prevention and treatment of dengue fever and other mosquito-borne diseases.
Average Trading Volume: 638,220
Technical Sentiment Signal: Hold
Current Market Cap: A$39.56M
Learn more about ILA stock on TipRanks’ Stock Analysis page.