- Pardes Biosciences Inc PRDS reported topline Results from its Phase 2 clinical trial evaluating pomotrelvir (formerly PBI-0451) for mild to moderate COVID-19 in vaccinated adults with no risk factors for developing severe disease.
- Pomotrelvir did not meet the primary endpoint of the proportion of participants undetectable for infectious SARS-CoV-2 on day 3 of treatment with pomotrelvir compared to placebo.
- 70% achieved undetectable levels in the pomotrelvir-treated group versus 63% in the placebo group (p=0.57).
- Otherwise, rapid clearance of SARS-CoV-2 virus and rapid relief of targeted and important COVID-19 symptoms occurred in healthy, vaccinated adults with no risk factors for progression to serious disease, regardless of the treatment arm.
- The company will suspend further development of pomotrelvir and review a number of strategic alternatives.
- As of March 31, 2023, the Company’s preliminary cash, cash equivalents and short-term investments totaled approximately $172.4 million, which is sufficient to fund the Company’s operations next twelve months.
- Price promotion: PRDS shares are up 6.82% to $1.41 on the latest check Monday.
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