Innovation Pharmaceuticals Inc (IPIX)

[farrell90]

It is a stunning turn. Merck after spending over 425 million dollars to acquire CD24Fc, it was pressing the FDA for approval a few weeks ago.


https://www.merck.com/news/merck-to-acquire-oncoimmune/

Its initial FDA application was met with skepticism as the FDA ask for more information to answer questions regarding its apparent outstanding initial FDA trials.

https://www.fiercebiotech.com/biotech/fda-tells-merck-told-to-show-more-data-for-its-oncoimmune-covid-drug-as-eua-pushed-back

Merck had even reach an agreement with the FDA to manufacture the drug.

https://www.merck.com/news/merck-announces-supply-agreement-with-u-s-government-for-initial-doses-of-investigational-biological-therapy-for-the-treatment-of-patients-with-severe-and-critical-covid-19/

Now they have withdrawn the drug. Wow how quickly things turn.

http://wearegeneralnews.com/merck-ends-development-of-covid-drug-it-acquired-from-oncoimmune/

GLTA Frrell