AIM ImmunoTech (NYSEAMERICAN:AIM) news for Monday concerning a possible treatment for the coronavirus from China has AIM stock rocketing higher.
According to an AIM ImmunoTech news release, the company will be testing its Ampligen as a potential treatment for the new coronavirus (SARS-CoV-2). These tests will take place in Japan. The World Health Organization’s Hideki Hasegawa, MD, PhD, will be overseeing the tests.
The AIM ImmunoTech news release claims that Ampligen may do well in treating coronavirus due to its previous effectiveness with the original SARS coronavirus (SARS-CoV-1). In testing with mice, this saw all treated mice survive while all untreated ones died.
Ampligen’s results for treating SARS-CoV-1 matter due to the similar makeup of the two viruses. The new coronavirus has regulatory RNA sequences that are almost identical to the previous version of the virus.
Thomas Equels, Chief Executive Officer of AIM ImmunoTech, said the following about the AIM stock news.
“Because SARS-CoV-2 shares many critical similarities with SARS-CoV-1, Ampligen may have an important role to play in developing a protective early-onset therapy for this new highly pathogenic coronavirus in humans, where currently there is no known effective therapy. We are proud to work with Japan’s universally esteemed NIID in the battle to curb this emerging potential pandemic.”
AIM stock was up 208.34% as of Monday afternoon. The stock is also up 244.26% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.