Immuron Shares Jump 40%, Come Off Thursday's 52-Week Low
December 23 2022 - 11:57AM
Dow Jones News
By Chris Wack
Immuron Ltd. shares were up 40% to $2.26 after the company said
Friday that it has received approval from the U.S. Food and Drug
Administration to proceed with the clinical evaluation of
Travelan.
The stock closed Thursday's session down 17%, after hitting its
52-week low of $1.39 a share.
The company said the Investigational New Drug application to
evaluate the efficacy of a single dose of Travelan to prevent
infectious diarrhea caused by enterotoxigenic Escherichia coli
strain H10407 is now active.
As a result of this approval, the company will proceed with its
planned clinical trial in the U.S. The safety and protective
efficacy of Travelan will be tested using a controlled human
infection-model clinical trial design.
Immuron is the sponsor of the IND. The clinical study will be
conducted by the Contract Research Organization Pharmaron CPC Inc.
at its FDA-inspected facility located in Baltimore.
Recruitment for the Phase II clinical trial is planned for the
first half of 2023, with headline results expected by year-end
2023.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
December 23, 2022 12:42 ET (17:42 GMT)
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