Statera Biopharma, Inc. (STAB) stock soared 23.67% in the pre-market trading session at the price of $0.90 despite no fundamental updates. Statera Biopharma is a clinical biopharmaceutical firm that produces novel therapies to treat anemia, autoimmune, cancers, and emerging viruses. The company leverages its proprietary platform developed to restore homeostasis and rebalance immunity.
Submission of Pivot Trial Protocol
On 2nd March 2022, STAB submitted its clinical study protocol to FDA for STAT-205 treatment of long-haul (post-acute) Covid-19. Phase-I trial of STAT-205 for post-acute Covid-19 has been evaluated in adults with mild virus and at greater risk of disease progression. The single-blind, randomized, placebo-controlled clinical study is midway through its registration of 24 candidates. Statera hopes to finish enrollment by Q3 and publish topline results in Q4 of 2022.
Chief executive officer of STAB, Michael K. Handley, remarked that submission of this clinical study is an essential milestone in the growth of their Covid-19 program. As the world is battling the pandemic, post-acute Covid-19 syndrome often remains a debilitating condition that is not comprehended well. Through STAT-205, the company presents a promising therapeutic approach to patients with an enduring burden of sickness.
STAB Announced Management Changes
Earlier on 25th February 2022, STAB brought a few changes to the company’s board of directors. CEO of Physis Pharma and Lays Sciences, Satish Chandran, will join the board. The appointment became effective from 24th February 2022. Steve Barbarick has resigned from his role as a director on 21st February 2022. He will continue serving in an advisory position.
Michael K. Handley commented that he welcomes Dr. Chandran on board. He is a biotech veteran with over 30 years of understanding in biologicals, drug, and medical product development. Dr. Chandran has joined them at such a thrilling time when the company advances its pipeline toward multiple clinical landmarks. He also thanked Steve Barbarick for his selfless services. They will keep benefiting from his experience as an advisor, Michael added.