Covid drug fails. Biomed-Lublin stock down 75 percent this year

The Biomed-Lublin company has long announced that it is working on a Polish drug for COVID-19. Unfortunately, recent clinical studies have shown that the plasma drug does not work. Investors are quickly turning away from the company and its value on the stock exchange is soaring.

Monday was not easy for the owner of Biomed-Lublin shares. According to Money.pl, the initial equilibrium observed right after the session opened quickly shook. After a few minutes, the Polish medical company lost 33 percent. share values. The drop to PLN 4.40 deepened the minimum not seen for over a year.

Biomed-Lublin was one of the phenomena on the stock exchange in 2020. At that time, the drug for COVID-19 was still at the stage of works, and the company announced further development and early research on the effectiveness of the preparation. Clinical trials began in January 2021. As reported, they were to be conducted on a sample of approximately 500 patients in several clinics in Poland.

“We have not withdrawn from the project concerning a plasma preparation containing anti-SARS-CoV-2 immunoglobulin, everything is proceeding according to the stages that we have informed about so far” – said Piotr Fic, vice president of Biomed Lublin.

Clinical trials have just ended – unfortunately, with tragic results for the company. As announced, the Independent Public Clinical Hospital No. 1 in Lublin stated that the Biomed-Lublin drug was not working, so further studies were abandoned.

“The results of the analysis of the data of the first 100 patients included in the study indicate that the addition of plasma-produced specific anti-SARS-CoV2 Immunoglobulin to standard therapy does not have a statistically significant effect on the endpoints specified in the study protocol,” the hospital authorities reported.

The hospital indicated that perhaps the drug of the Polish company could prove beneficial for people in the very early stage of infection, and not those who are already hospitalized. For this, however, completely separate studies are needed. Biomed-Lublin has announced further cooperation on the drug, e.g. as part of a consortium.

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