Drug developer Veru Inc on Tuesday said it plans to proceed with a late-stage trial of its COVID-19 pill, weeks after the U.S. health regulator declined to authorize the oral drug to treat high-risk patients hospitalized with COVID-19.
It will, however, stop the development of the drug as a potential treatment for prostate cancer as part of its strategy to cut costs.
Veru plans to continue development of the oral drug, sabizabulin, in late-stage studies with high-risk hospitalized influenza patients and COVID-19 patients. It expects to report interim data from the COVID-19 trial next year.
TILDA SWINTON IS DONE WITH COVID MANDATES: ‘I’M NOT WEARING A MASK’
Drug developer Veru Inc is going to proceed with a late-stage study of a COVID-19 pill despite FDA snub.
CLICK HERE TO GET THE FOX NEWS APP
The company said it was planning to meet the U.S. Food and Drug Administration soon and will communicate details of the late-stage trial after the meeting.
Additionally, Veru will stop the development of two of its other cancer drug candidates – VERU-100 and zuclomiphene – which it was testing in mid-stage studies for various indications.
Shares of the company rose nearly 3% to $2.09 in afternoon trade.
