Swiss-Based Biotech Pops On Covid-19 Related Results

A Swiss-based biotech firm just announced that ZYESAMI™ (Aviptadil) has Successfully Demonstrated 10-Day Accelerated Recovery from Respiratory Failure in Critically Ill Patients with Covid-19 Treated with High Flow Nasal Oxygen at 28-Day Interim Endpoint. Shares of Relief Therapeutics Holding AG (OTCQB:RLFTF) were trading higher on the news.

Relief Therapeutics is a drug development company focusing on clinical stage projects, primarily developing drugs of natural human origin. It is engaged in its operations for diabetic complications and respiratory diseases. The company is focused on developing drug candidates namely, Aviptadil and Atexakin alfa. Aviptadil is a biologically active endogenous human peptide that possesses anti-proliferative, anti-inflammatory, and immune regulatory activities. Atexakin alfa is a low-dosage formulation of interleukin-6 that exhibits functions in diverse tissues and organs. The group operates its functions in Switzerland.

As mentioned earlier, traders were bullish on the news as shares traded up to a session high of $0.4267/share (+15.38%). This is a welcome move for investors as the broader market continues its selloff.