Benzinga | Jun 21, 2021 08:03AM EDT

Enochian BioSciences Stock Is Trading Higher After In-Licensing COVID-19, Influenza Inhaled Treatment Technology

* Enochian BioSciences Inc (NASDAQ:ENOB) has acquired an exclusive license for a technology to potentially treat and prevent all variants of coronavirus, including the cause of COVID-19, as well as influenza.

* The technology is delivered by a nanoparticle, allowing it to either rapidly treat an infection or to wait in ambush for a cell to become infected to prevent (prophylaxis) future infections.

* Since the target cells of the viruses live up to 20 months in human airways, it is possible that a single inhalation could both rapidly treat and protect against infection for relatively long periods.

* Recently, the FDA accepted Enochian's pre-IND request for a potential functional cure or treatment of HIV.

* The request was based on the results of a 54-year man living with HIV who had failed to suppress the virus with antiviral therapy.

* Last week, the company also announced a $29 million direct offering.

* Price Action: ENOB shares are up 13.8% at $6.60 during the premarket session on the last check Monday.