- MGC Pharmaceuticals (MXC) has completed its COVID-19 phase two clinical trial
- The trial saw 50 virus-infected patients treated with MGC’s anti-inflammatory treatment, ArtemiC
- The aim of the trial was to test the efficacy and safety of the treatment and evaluate the patient’s recovery rates
- The results of the trial are expected to be revealed over the next month
- On the market this afternoon, MGC is up 10 per cent and is trading for 2.2 cents per share
MGC Pharmaceuticals (MXC) has completed its COVID-19 phase two clinical trial for ArtemiC.
The trial saw 50 virus-infected patients treated with MGC’s anti-inflammatory treatment, ArtemiC. The aim of the trial was to test the efficacy and safety of the treatment and evaluate the patient’s recovery rates.
Results of the trial will be reported in the next month following an independent technical review and statistical validation of the trial data.
In August, the company reported interim results from the first 10 patients in Israel. The trial met all its primary goals of being effective and date for human use.
If the full trial results confirm the interim results, the company is well-positioned to fast-track production of ArtemiC as a food supplement to meet the expected demand.
With widespread outbreaks of COVID-19 cases and second waves of the pandemic across several countries, in America’s, Europe, Russia and the Middle East, gives MGC the opportunity to continue to progress its clinical trial work.
According to the World Health Organisation’s weekly situation report, there have been over 3 million new cases over the week, the highest number of weekly new COVID-19 cases reported globally since the outbreak.
“We are very pleased to announce the completion of Phase two clinical trial for ArtemiCTM,” Co-founder and Managing Director Roby Zomer said.
“The second wave of the pandemic is again putting increased pressure on a number of healthcare systems around the world. We look forward to announcing full results of this trial in coming weeks and will continue to progress this important clinical trial work,” he added.
On the market this afternoon, MGC is up 10 per cent and is trading for 2.2 cents per share at 1:41 pm AEDT.