RTTNews | Jul 15, 2020 07:32AM EDT

07:31 Wednesday, July 15, 2020 (RTTNews.com) - Shares of Can-Fite BioPharma Ltd. (CANF) are rising over 33% in pre-market today, after the company announced that it has amended the protocol for its Phase II COVID-19 study based on the U.S. FDA feedback.

The Phase II study titled, "Piclidenoson for Treatment of COVID-19 - A Randomized, Double Blind, Placebo-Controlled Trial" is a pilot trial in a population of hospitalized patients who all receive standard supportive care.

Standard efficacy measures include clinical and respiratory status at Day 29, including the proportion of patients alive and free of respiratory failure, as well as the proportion discharged home without need for supplemental oxygen.

Further, the company expects to file an IND application with its completed protocol before the end of July.

The stock has been trading in the range of $1.08 - $4.95 for the past one year, and closed Tuesday's trade at $1.84, down 4 cents or 2.13%. CANF is currently trading at $2.44, up 61 cents or 33.33% in the pre-market session.

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