GT Biopharma News: GTBP stocks increase 26% on Coronavirus treatment jumps

<p>GT Biopharma (OTCMKTS: GTBP) news for Tuesday that it is working on a possible treatment of coronavirus from China, the GTBP share is higher.


According to a press release from GT Biopharma, the company is working together with Cytovance Biologics to develop its coronavirus treatment. The goal for these two companies is to create a treatment with GT Biopharmas TriKE in combination with Cytovance Biologics Keystone Expression System based on E. coli.

The two companies want to start by preparing enough deliveries for preclinical testing of coronavirus treatment. The goal is to then scale up the creation of this treatment for use in people suffering from the virus.

Anthony Cataldo, Chairman and CEO of the company, said the following about the GT Biopharma news.

“We are pleased to have the opportunity to partner with Cytovance to promote our TriKE Infectious Disease Research Program to investigate the therapeutic benefit of TriKE in attacking coronavirus infection. The flexibility and breadth of our TriKE therapeutic platform means that we can quickly adapt to new disease goals and quickly advance TriKE product opportunities to the clinic. ”

GT Biopharma is far from the only company working with coronavirus treatment. Several others are also rushing to create their own responses to the virus. It includes Gilead (NASDAQ: GILD) working on its own vaccine, as well as any treatment coming from AIM ImmunoTech (NYSEAMERICAN: AIM).

The GTBP share increased by 25.98% as of Tuesday afternoon.

At the time of writing, William White had no position in any of the above securities.

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