Breakout Stocks Corona Virus Stocks
Over the past months, a wide range of stocks have come into focus as coronavirus plays and due to the sheer size of the potential market for a treatment or a vaccine, many of those stocks have recorded substantial gains. One such stock to have come into focus in recent days is that of Relief Therapeutics (OTCMKTS:RLFTF).
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FDA grants Expanded Access Protocol to RLF-100
The company has seen its stock rally considerably in recent days and on Monday, it rallied further as investors piled on to it. The Relief stock rallied by as much as 11% yesterday and in light of such gains, it might be worth it for investors to perhaps take a look at the recent developments at the company.
The major announcement from the company came about back on July 29. It was announced that the company along with its partner in the United States, NeuroRx Inc had been granted an Expanded Access Protocol by the United States Food and Drug Administration for its COVID 19 treatment.
The product in question is named RLF 100 and it is meant for treating patients suffering from respiratory failure brought about by the coronavirus. The granting of the protocol was a major development for Relief Therapeutics and soon enough there was a significant focus on the stock as well.
The product could end up being an important one in the battle against COVID 19 since the treatment is going to be allowed only after all the well-known methods of treatment have already been deployed. While RLF 100 is still being reviewed, investors need to note that the product has already been successful in bringing about fast recovery from respiratory failures in patients suffering from COVID 19 infection.
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These are significant developments and it is not really a surprise that the market has taken notice of the developments as well. It remains to be seen whether the Relief stock can manage to extend its gains through the rest of the week. Investors could do well to put this stock into their watch lists and track the movement diligently.
While the announcement from Relief on July 31 was certainly a major positive for the company, it is also necessary to point out that earlier on in the month, there was another significant announcement. Back on July 16, Relief Therapeutics announced that an independent Data Monitoring Committee had reviewed the findings from the fast track FDA backed trials of the product RLF-100.
The independent committee studied the findings from the first 30 patients who had been administered the medicine. The first interim analysis of the product was meant for ascertaining the safety of the drug and also the feasibility of the trial to hit the endpoint.
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