- Recce Pharmaceuticals (RCE) broke out of a trading halt and soared today after revealing positive anti-COVID results from its RECCE-327 (R327) product
- The drug is being tested against SARS-CoV-2, which is the virus that causes COVID-19, as part of a CSIRO and Doherty Institute screening program
- Recce says the drug showed "encouraging inhibition" of the virus and, as such, will now be progressing to the next stage of testing
- This stage will include some confirmatory in-vitro testing and a cytotoxicity assessment for R327
- While Recce stresses that the testing is only preliminary, Chairman Dr John Prendergast still says the company is highly encouraged by the results
- Investors seem encouraged, too, with Recce shares tacking on a neat 14.21 per cent this afternoon to close worth $1.08 each
Recce Pharmaceuticals (RCE) broke out of a trading halt and soared today after revealing positive anti-COVID results from its RECCE-327 (R327) product.
The synthetic anti-infective is being tested against SARS-CoV-2, the virus that causes COVID-19, in a lab as part of a Commonwealth Scientific and Industrial Research Organisation (CSIRO)/Doherty Institue antiviral screening program.
Recce told shareholders the drug showed "encouraging inhibition" of the virus and, as such, will now be progressing to the next stage of testing.
The RECCE-327 test
Recce's drug candidate was tested against a positive control, which in this case was an investigational compound known as beta-d-N4 hydroxycytidine, or NHC. This control has been proven to be a highly-active compound against SARS-CoV-2 in vitro, but its so far not approved for human use.
In the test, R327's half-maximal inhibitory concentration, or IC50, was investigated in different doses of the drug. Essentially, IC50 indicates how much of a drug is needed to inhibit the virus by half, giving the investigators an idea of the potency of the drug.
While Recce's product showed signs of potential toxicity in the two highest concentrations tested, the overall test results were positive enough that the drug is now progressing to Stage 1b testing, where it will go through some confirmatory in-vitro testing and a cytotoxicity assessment. This stage of testing is slated to begin within weeks.
Recce stressed that today's results are preliminary and more testing needs to be done before R327 is confirmed as being active against SARS-CoV-2.
Nevertheless, Recce Chairman Dr John Prendergast said the company is highly encouraged by the results.
"We are interested in seeing the next stage and look forward to continuing research on the effectiveness of R327 with the team at the Doherty Institute," John said.
Meanwhile, Recce is busy testing some of its compounds in the U.S. against SARS-CoV-2 in ferrets. While no material results have come from the tests just yet, the company said the studies are progressing well, with results on track for release before the end of the year.
Shares in Recce surged ahead following this afternoon's news, with the company gaining 14.21 per cent to close with shares worth $1.08 each. Recce has a $188.39 million market cap.