On Thursday Statera Biopharma (STAB) shares tumbled 4.87% to $0.73 on a very small volume of 290,839 units. This decline is happening due to correction making in phase 1 clinical trial protocol by submitting to the U.S. Food and Drug Administration (FDA). Two days ago Statera announced its testing study for STAT-205 treatment of post-acute (long-haul) COVID-19.
The CEO and president of Statera, Michael K. Handley says that filing this study is a vital milestone in the improvement of the COVID-19 program while the world is still concerned with combating the pandemic. It has won all the existing vaccines from prominent biotech companies like Moderna, Pfizer, AstraZeneca.
STAT-205 might expose a clear way to treat both acute COVID infections and long COVID. Previous results have shown that the candidate could slow down or halt the expansion of the SARS-CoV-2 which causes the covid-19 in patients’ lungs. The majority of people with coronavirus get well within weeks in struggling with infection but a vital number of infected face the sickness for more than four weeks.
Today STAB is soaring 30% on over 5.5 million volume. It is expected to cross $1 if FDA approves the submitted phase 1 clinical trial protocol. Before the end of March, the FDA’s response may come and the $2 value could be surpassed in a day.