Pardes Biosciences (NSDQ:PRDS) said its PBI-0451 twice-daily COVID-19 pill candidate had favorable tolerability and good oral bioavailability, based on interim data from an ongoing Phase 1 trial.
The company also said the drug candidate lacked clinically significant drug-drug interactions.
PRDS shares ticked down 8.70% to $10.29 today.
“We’re very encouraged by the safety profile and bioavailability profile we’re seeing to date,” said Brian Kearney, chief development officer at Pardes Bio, in an investor call.
Pardes Biosciences also noted that, in the interim results, PBI-0451 administered twice-daily maintained pharmacokinetics exposures anticipated to deliver strong antiviral activity against SARS-CoV-2.
The company plans on launching a Phase 2/3 study in the middle of 2022.
At present, two oral antivirals have won emergency use authorization (EUA) in the U.S.
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