MGC Pharmaceuticals Ltd (LSE:MXC, OTC:MGCLF, ASX:MXC) shares jumped 8% in early trade after the bio-pharma group released "encouraging" interim data from a study of its plant-inspired treatment for Covid.
None of the 16 patients administered CimetrA demonstrated significant complications related to the illness. By contrast 62.5% of the group receiving a placebo with no medicinal value did.
“Whilst the sample size on which the interim analysis has been performed is small and cannot be used for inferential statistical analysis, the results thus far are very encouraging and in line with the company's expectations,” a statement said.
The ongoing study, scheduled to enrol 240 Covid patients, is currently underway at the Rambam Medical Centre, Israel, with MGC planning to open additional sites globally.
Completion of the dosage evaluation is the next phase in moving CimetrA towards marketing authorisation as a registered medicine, the company said.
At 8.13 am the shares were up 0.075p at 1p.