Jiangsu Yahong Meditech (SHA:688176) or Asieris Pharmaceuticals signed an investigational drug supply agreement with the US Centers for Disease Control and Prevention for its APL-1202 medication for free-living amoeba infections, according to a Monday press release.
The drug is indicated for free-living amoebae causing amoebic meningoencephalitis, which has a 90% mortality rate, the company said.
The US CDC has also submitted an expanded-access investigational new drug application to the US Food and Drug Administration for the use of APL-1202 in laboratory-confirmed or suspected non-keratitis infections caused by free-living amoeba, Asieris said.
Shares fell 2% during Wednesday's late morning trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.