GT Biopharma, Inc. (OTCMKTS: GTBP) had a great day in the market yesterday and I’m expecting that the positive movement will continue. The gains came after the company announced an update with regard to its COVID-19 development program. Here’s what’s going on:
GTBP Stock Gains On COVID-19 Update
In the press release, GT Biopharma provided an update with regard to the development of its TriKE technology as a potential treatment option for patients with severe COVID-19 infection. The company’s TriKE COVID-19 therapeutic is designed to seek and kill Novel Coronavirus 2019 virus infected cells prior to the release of additional virus particles from those infected cells.
Importantly, TriKE is an immune therapeutic, ultimately directing the body’s innate immune system to send Natural Killer cells to target distressed cells. By targeting and eliminating these cells before they have time to shed additional particles, the immunotherapy has the potential to eliminate coronavirus in patients.
Importantly, GT Biopharma partnered with Cytovance Biologics, a large United States-based contract development and manufacturing company. Under the terms of the agreement, Cytovance will provide drug development services to GT Biopharma in an effort to assist with bringing the TriKE product to market.
Importantly, the TriKE developed by GTBP targets the ACE2 receptor, which is believed to be the main host cell receptor targeted by the Novel Coronavirus.
In a statement, Anthony Cataldo, CEO and Chairman at GTBP, ahd the following to offer:
“Development is continuing according to plan, and we are working to prepare TriKE COVID-19 for further preclinical testing and GMP manufacturing. We are pleased with the progress Cytovance is making, and are looking forward to being able to evaluate the TriKE COVID-19 therapeutic in humans.”
This News Is Huge
The news released by GT Biopharma proved to be overwhelmingly positive. Not only does the company have a candidate under development for the treatment of severe COVID-19 symptoms, development is going well.
Ultimately, this represents a massive opportunity.
While several companies are working on vaccines, there are few companies that actually have a tangible COVID-19 treatment option under development. Moreover, there is likely to be a long-term need for treatment.
The fact of the matter is that the coronavirus that causes COVID-19 is a cousin of the coronavirus that causes the common cold. If it were easy to create effective vaccines for this class of viruses, we’d already have one for the common cold.
So, while there are plenty of companies working toward a vaccine, there is a strong argument that a vaccine would lack the level of efficacy needed to eradicate COVID-19 completely. As such, it is likely that COVID-19 will continue to pop up year after year ahead.
However, this wouldn’t be such a scary idea if there were a cure for those who do fall critically ill with the condition. GTBP is making strong progress developing that treatment. Ultimately, there’s incredible value in that, making this stock one to watch closely.
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