Aridis Pharmaceuticals Inc. (NASDAQ:ARDS) Stock Falls After The News: What to do Now?
Aridis Pharmaceuticals Inc. (NASDAQ:ARDS) dropped 17% after the company said that its experimental dual antibody AR-712, COVID-19 mAB cocktail treatment, can bind and neutralize the delta strain of the coronavirus.
The company is developing the therapy as an at-home, self-administered inhaled treatment for coronavirus patients yet to be hospitalized. According to the company, the binding analysis suggests that AR-712 can be effective against variants of Concern and variants of Interest as indicated by the US CDC.
According to CDC, the delta variant is the most common coronavirus strain in the US, accounting for most new infections. WHO had cautioned that in the coming months, the Delta strain would become a dominant coronavirus variant.
The inhaled AR-712 dual antibody therapy cocktail will offer more comprehensive coverage of most high-risk variants. Preclinical studies show that AR-712 has a robust therapeutic efficacy in the SARS-CoV-2 animal model. the company will commence AR-712 clinical studies in 2H 2021. So, in the coming months, ARDS is a stock to watch.
Market Reaction:
On Tuesday, ARDS stock slumped over 15.50% at $6.07 with more than 196k shares, compared to its average volume of 20k shares. The stock had moved within a range of $5.84 – 7.22 after opening the trade at $7.14. Over the past 52-week, the stock has been trading within a range of $4.70 – 8.50.
