On a historic day in the U.S. when elections are front and center on every American's mind, we cannot forget that many of our recent economic woes are due to a public heath emergency. Medical developments are how society will ultimately get past this pandemic, and today we saw two such micro-caps announce corporate developments in this space.
Naturally Splendid Enterprises Ltd. (TSX-Venture:NSP) (OTC:NSPDF) announced this morning that Health Canada has provided a Notice of Authorization to proceed with a phase 2 clinical trial for a potential COVID-19 treatment utilizing the target drug Cavaltinib TM.
The Company has now completed all required submissions and documentation required by Health Canada and has final approval to initiate the strategic execution of the phase 2 clinical trial for a potential COVID-19 treatment.
The Company demonstrated optimism that Cavaltinib(TM) can be a significant resource as part of a successful treatment plan for COVID-19 positive patients. This treatment option, delivered in capsule form, may mitigate the risk for those who are at high risk of morbidity or mortality. The capsule delivery mechanism may be able to provide hope for patients while reducing the impact on Health Care Services as this form of treatment can be self-administered at home rather than patients being forced to seek treatment in hospitals or clinics.
Research has already shown Cavaltinib (TM) irrefutably inhibits, the NF-kappa-B Signalling Pathway through mechanisms discovered by BIOLOGIC's principle scientist, Franco Cavaleri. Plasm Pharmaceutical Inc. has secured licensing rights for this BIOLOGIC-owned patent that covers 38 countries. Naturally Splendid owns 16% of the joint venture and will receive a 10% royalty on gross sales of all PLASM products.
Initially shares of NSP were halted pending this news, but since have started trading with investor excitement high. At last check, shares were up 20% at $0.06 in late-morning trading.
In other news, Recruiter.com (OTCQB:RCRT) announced eight new client wins in the health-care industry, from which the company could generate $8M+ of revenue over the next 14 months. A recent Recruiter Index report showed optimism in the healthcare sector, with 80% of surveyed recruiters expecting demand to increase in the vertical through the end of the year.
"Of the new jobs added to the Recruiter.com Job Market platform, approximately 34% are in healthcare," said Evan Sohn, CEO of Recruiter.com. "These represent great career opportunities for the 1.4 million healthcare workers who lost their jobs in April 2020, and many of these roles are essential front-line roles."
Front line workers are desperately needed all around the world, so it is a blessing to see hiring ramp up in this much needed sector.
Shares of RCRT were trading higher near the open but have since pulled back a tad and are trading even at $1.70 in late-morning trading.
