Appili Therapeutics Inc. has secured a commitment for the second stage of funding for ATI-1701 from the U.S. Air Force Academy (USAFA), who is working in partnership with the Defense Threat Reduction Agency, the funding agency.
A phase III trial testing the oral antiviral favipiravir for the treatment of mild to moderate COVID-19 failed to hit statistical significance on the primary endpoint of time to sustained clinical recovery, sponsor Appili Therapeutics Inc. said. Company shares (TSX:APLI) plummeted Nov. 11, falling 53.6% to CA26 cents (US21 cents). Originally approved for the treatment of pandemic flu, favipiravir has since gained marketing authorizations for the treatment of COVID-19 in several markets.
A phase III trial testing the oral antiviral favipiravir for the treatment of mild to moderate COVID-19 failed to hit statistical significance on the primary endpoint of time to sustained clinical recovery, sponsor Appili Therapeutics Inc. said.
There are millions of fungal species, but it appears only a few hundred of them cause serious fungal infections that are responsible for an estimated 1.5 million deaths globally each year and are equally as dangerous as bacterial and viral infections. Last week, the U.S. CDC pointed the spotlight on this situation with its Fungal Disease Awareness Week.
The public attention that COVID-19 has received has spilled over to antibiotics companies, and the BioWorld Infectious Diseases index has grown 14% in value since the beginning of the year.
Infectious disease has been rough going for all comers the past few years, as companies have floundered. Appili Therapeutics Inc.’s CEO, Armand Balboni saw the troubles others encountered with the indication and also saw companies with thin pipelines struggle, but it hasn’t stopped him from forging on.