GT Biopharma (OTCMKTS:GTBP) news for Tuesday about it working on a possible treatment for the coronavirus from China has GTBP stock heading higher.
According to a GT Biopharma news release, the company is working alongside Cytovance Biologics on the development of its coronavirus treatment. The goal of these two companies is to create a treatment using GT Biopharma’s TriKE in combination with Cytovance Biologics’ Keystone Expression System based on E. coli.
The two companies want to start with preparing enough supplies for preclinical testing of the coronavirus treatment. The goal is to then scale up the creation of this treatment for use in humans suffering from the virus.
Anthony Cataldo, Chairman and CEO of the company, said the following about the GT Biopharma news.
“We are pleased to have the opportunity to collaborate with Cytovance in furthering our TriKE infectious disease research program to investigate the therapeutic utility of TriKE to attack coronavirus infection. The flexibility and breadth of our TriKE therapeutic platform allows us to quickly adapt to new disease targets, and rapidly advance TriKE product opportunities into the clinic.”
GT Biopharma is far from the only company working on a coronavirus treatment. Several others are also rushing to create their own answers to the virus. That includes Gilead (NASDAQ:GILD) working on its own vaccine, as well as a possible treatment incoming from AIM ImmunoTech (NYSEAMERICAN:AIM).
GTBP stock was up 25.98% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.