By Sarina Isaacs
Shares of Polyrizon more than quadrupled intraday after the biotech company said it is moving forward with an allergy blocker clinical trial next year.
The stock on Wednesday gained as much as 357% to $4.80, a new 52-week high, and was halted soon after the open for volatility. More recently it was up 216% to $3.32.
The Israel-based biotech company said it has entered a manufacturing agreement for its PL-14 allergy blocker with Eurofins CDMO Amatsiaquitaine S.A.S., an EU-based GMP manufacturing facility. The collaboration will support its upcoming clinical trial for the nasal spray treatment, expected to start next year, Polyrizon said.
The company added that the manufacturing site is set to support the trial, offering development programs in line with U.S. and European regulatory standards.
Polyrizon previously announced the upcoming trial and manufacturing agreement earlier this month.
Write to Sarina Isaacs at sarina.isaacs@wsj.com
(END) Dow Jones Newswires
December 18, 2024 11:02 ET (16:02 GMT)
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