RTTNews | Dec 22, 2020 03:57AM EST

03:57 Tuesday, December 22, 2020 (RTTNews.com) - The lockup period of PolyPid Ltd. (PYPD) ends tomorrow, i.e., December 23.

PolyPid is a clinical-stage biopharmaceutical company developing prolonged-release therapeutics for surgical site infections using its proprietary PLEX technology.

The company's lead product candidate D-PLEX is currently in a phase III trial for the prevention of surgical site infections (SSIs) in abdominal surgery, dubbed SHIELD I. The top-line results from this study are expected in the second half of 2021.

A second phase III trial of D-PLEX for the prevention of post-abdominal surgery incisional infections, dubbed SHIELD II, was initiated as recently as December 16.

As of September 30, 2020, the company had cash and cash equivalents, short-term deposits and long-term deposits in the amount of $71.8 million.

PolyPid made its debut on The Nasdaq Global Select Market on June 26, 2020, offering its shares at a price of $16 each and the 180 day lockup period expires on December 23.

PYPD opened the first day of trading on June 26 at $16.00 and closed at $19.00 that day. The stock has thus far hit a low of $8.64 and a high of $19.45.

PYPD closed Monday's trading at $10.69, down 0.93%

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