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  • PharmAust (PAA) has revealed preliminary results show its drugs are effective in inhibiting COVID-19 in human lung cells
  • Researchers in Melbourne have been testing the effect monepantel (MPL) and monepantel sulfone (MPLS) has on the deadly virus
  • This recent testing found MPL and MPLS inhibited COVID-19 in human lung cells by up to 95 per cent
  • PharmAust said following these initial results, further testing will now be undertaken to better understand the drug's effect
  • Shares in PAA are trading 4.26 per cent in the green at 24.5 cents each

Oncology company PharmAust (PAA) has announced more positive initial results following testing of its drug's effect on COVID-19.

The latest testing for PharmAust by the Walter and Eliza Hall Institute of Medical Research in Melbourne examined if monepantel (MPL) and monepantel sulfone (MPLS) could inhibit the deadly virus.

Preliminary results were positive - showing MPL and MPLS inhibited COVID-19 in human lung adenocarcinoma epithelial cells (Calu-3 cells) by up to 95 per cent.

It's an exciting development for PharmAust, as the company's MPL and MPLS drugs have now demonstrated the ability to reduce COVID-19 infectivity in non-human primate kidney and human lung.

PharmAust’s Chief Scientific Officer, Richard Mollard, said the was very pleased with these latest results.

"Further preliminary confirmation of the activities of MPL and MPLS against SARS-CoV-2 in alternative, and especially human, cellular models is an encouraging step," he said.

"These data will fuel further development of the effects of monepantel administration upon SARS-CoV-2 for clinical application," he added.

Moving forward, PharmAust said further testing of the drugs through in vitro organoid and ex-vivo organotypic systems from a variety of different patients may be required.

The company wants to better understand how MPL and MPLS affect COVID-19 infectivity, prior to formalised clinical studies.

Shares in PharmAust have jumped up since this latest testing results, trading 4.26 per cent in the green for 24.5 cents each.

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