AstraZeneca announced on Tuesday that it has initiated an early study trial of AZD7442, a combination of two monoclonal antibodies (mAbs), to be used for the potential prevention and treatment of Covid-19.
AstraZeneca (AZN) said that in this first-in-humans dose escalation study, AZD7442 will be evaluated for safety, tolerability, pharmacokinetics, and generation of anti-drug antibodies (ADAs).
Synthesised in the laboratory, mAbs aim to mimic natural antibodies. The UK drugmaker said that the treatment has the potential to be given as a preventative option for people exposed to the virus, and to treat and prevent disease progression in patients already infected by the virus.
“This trial is an important milestone in the development of our monoclonal antibody combination to prevent or treat COVID-19,” said AstraZeneca’s Mene Pangalos. “This combination of antibodies, coupled to our proprietary half-life extension technology, has the potential to improve both the effectiveness and durability of use in addition to reducing the likelihood of viral resistance.”
The Phase 1 trial will include up to 48 healthy participants in the UK aged 18 to 55 years and is funded by the US Defense Advanced Research Projects Agency (DARPA) and the US Biomedical Advanced Research and Development Authority (BARDA).
Should AZD7442 prove to be tolerated and have a favourable safety profile in the trial, AstraZeneca said it will progress it into larger late-stage Phase II and Phase III trials to evaluate its efficacy as a potential preventative and treatment approach against COVID-19. In a recent publication, the mAbs were shown preclinically to block the binding of the SARS-CoV-2 virus to host cells and protect against infection in cell and animal models of disease, the company added.
AZN shares have gained 14% this year as the drugmaker joined the list of companies engaged in the development of a potential coronavirus vaccine. Looking ahead, the $81.84 average analyst price target puts the upside potential at a promising 44% in the coming 12 months.
Overall, the stock scores a Strong Buy consensus from the analyst community based on 3 unanimous Buy ratings. (See AstraZeneca stock analysis on TipRanks)
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