Benzinga | Nov 12, 2021 08:53AM EST

Aditxt Consortium Partner Appili Therapeutics' Phase 3 PRESECO Trial Did Not Achieve Statistical Significance On The Primary Endpoint Of Time To Sustained Clinical Recovery

Aditxt, Inc. ("Aditxt") (NASDAQ:ADTX), a biotech innovation company with a mission to improve the health of the immune system, today announced that the global Phase 3 PRESECO (PREventing SEvere COVID-19) trial evaluating oral Avigan(r)/Reeqonus(tm) (favipiravir) as a potential at-home therapy for patients with mild-to-moderate COVID-19, which was being run by Appili Therapeutics, Inc. ("Appili")(TSX:APLI), a consortium partner of AiPharma Global Holdings LLC ("AiPharma Global"), did not achieve statistical significance on the primary endpoint of time to sustained clinical recovery. Additional analyses of the trial data are ongoing.

As previously announced, Aditxt has entered into a transaction agreement to reach a definitive agreement by the end of November 2021 to acquire a subsidiary of AiPharma Global which is to own all of the assets of AiPharma Global, a company focused on discovering, developing and commercializing antiviral therapies across a broad spectrum of infectious diseases. AiPharma Global is a biopharmaceutical company that holds directly, or through its affiliates worldwide (excluding Japan), exclusive rights to Avigan/Reeqonus/Qifenda and all formulations of favipiravir, a broad spectrum oral antiviral drug that targets COVID-19 and other infectious diseases.

"We are reviewing and evaluating the announced results and data, and will be discussing them with AiPharma Global to determine the best course of action," stated Aditxt Co-Founder and CEO Amro Albanna.

The full text of Appili's release can be found at: https://www.appilitherapeutics.com/news.