The back-story, then: When, in December 2016 — after Martin Shkreli manipulated the old KaloBios stock, wildly — and he was arrested, this company was forced into a nearly immediate bankruptcy reorganization (December 31, 2016). It ultimately changed its name (September 2018), attracted a new and highly-capable executive team, secured debtor in possession financing, and switched its focus to new and novel therapeutic programs, as opposed to the orphan disease price-gouging ideas Martin had suggested — but never executed (due to his arrest and convictions).
Now that far more noble effort has paid off — big time.
Of course, these are top line results, but given an n of over 500 patients, the results are pretty much conclusive: Lenz- helps severely ill COVID-19 patients avoid ventilators, and recover more quickly, and completely. There was a 54% reduced risk of having to be put on a ventilator, if Lenz- was used as a therapeutic against the so-called “cytokine storm”.
So the NASDAQ specialist firms have the reborn company trading completely through the roof this morning, up over 96
Congrats, Dr. Durrant and team — you’ve proven that unbridled greed is not the only way to approach life science. And the Universe has rewarded that morality, very handsomely. This team was patient, stayed focused, didn’t overspend — kept several candidates progressing apace, all by not unduly seeking immediate cash salaries and bonuses. Kudos!
I will also cross post this on the Martin blog, and the now-archived KaloBios / Humanigen blog.
I am grinning ear to ear, as well — because I’ve beaten Mr. Obama’s brackets by a minimum of three games, and he can only win one more game that I won’t win, as well. Still, Sister Jean and the boys from Loyola are out… but well-played, Mr. President — well played!
नमस्ते
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