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Innovation Pharma Shares Up as Brilacidin Explored as Coronavirus Treatment

BY Dow Jones & Company, Inc.
— 12:02 PM ET 02/18/2020

Innovation Pharmaceuticals Inc. ( IPIX ) shares advanced Tuesday after the clinical stage pharmaceutical company said it was exploring its lead definsin drug candidate, Brilacidin, as a potential novel coronavirus treatment.

Innovation Pharma said it had received inquiries asking about Brilacidin's potential to treat the Covid-19 epidemic, which continues to represent a significant risk in China and around the world.

Innovation Pharmaceuticals ( IPIX ) is now in talks with institutions and researchers regarding the opportunity to explore developing Brilacidin, centering on assessing it as a potential novel antiviral therapy for treating coronaviruses including Covid-19, Middle East respiratory syndrome coronavirus, known as MERS-CoV, and severe acute respiratory syndrome coronavirus, or SARS-CoV.

Brilacidin has demonstrated broad and robust antibacterial, anti-inflammatory and immunomodulatory properties in multiple U.S. Food and Drug Administration clinical trials, the company said.

Shares were up 5.6% at $0.095 in early trade, and are 64% higher year-to-date.

Write to Robb M. Stewart at robb.stewart@wsj.com