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Thursday, May 18, 2023 9:09:49 AM
Pardes may want to consider using some of that cash to partner with a 3CL protease inhibitor that works
Pardes Biosciences Seeking Strategic Alternatives - May 17, 2023
Pardes’ Pipeline Lost Appeal
At its peak in January 2022 PRDS had a market cap of $929 million and it has gone down every successive quarter until it settled at a low of $90 million market cap. The company was developing a novel 3CL protease inhibitor that was similar in function to Pfizer’s 3CL protease inhibitor called Paxlovid. There are a number of 3CL inhibitors and competitors; Pfizer (PFE) is the largest, then Shionogi (OTCPK:SGIOF), Cocrystal (COCP) with its P1 study, and Todos Medical (OTCPK:TOMDF) with its P2 hospitalized patient drug and dietary supplement, which users take for acute COVID and Long COVID. There are also some earlier stage 3CL protease inhibitors that are promising from companies like Exscientia (EXAI) who is in joint development with Scripps. From a mechanistic point of view, Todos has a 3CL and a CCR5 inhibitor packed into one molecule which may give them an advantage if the viral mutations expand to the protease.
3CLpro Target Becoming Problematic
There are hints that Paxlovid is losing efficacy possibly due to mutations forming on the 3CL protease which affect the binding site for Paxlovid. One study developed a map of the hot spots likely to lead to Paxlovid resistance. Todos Medical is suggesting that their drug Tollovir, along with the nutraceutical, Tollovid, may not be susceptible to these mutations. But for most 3CL protease inhibitors, the future doesn’t look as rosy because of the mutations.
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