DXB’s CCR2 receptor blocker DMX-200 has been selected to take part in a WHO endorsed and externally funded global pandemic phase 4 study targeting Acute Respiratory Distress Syndrome (ARDS) caused by COVID-19. The study covers 200 global sites and involves up to 7,000 patients in an adaptive that if successful, could lead to the almost immediate commercialisation of DMX-200. There is no additional cost to DXB beyond supplying the drug to the study. We maintain our SPEC BUY recommendation and our price target is upgraded to $0.73 p/share.
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