MyMD Pharma's Unit Oravax Medical Preparing To Commence Clinical Trials For Oral COVID-19 Vaccine

(RTTNews) - MyMD Pharmaceuticals Inc. (MYMD) said that its subsidiary Oravax Medical Inc., partially owned with its majority partner Oramed Pharmaceuticals Inc. (ORMP), is preparing to commence clinical trials for its oral COVID-19 vaccine, first in Israel, then in additional clinical sites internationally.

In Tuesday regular trading, MYMD was trading at $5.03 up $0.23 or 4.80 percent.

Oravax's COVID-19 vaccine is being developed for use both as a standalone vaccine and as a booster for people who have been previously vaccinated for COVID-19.

Oramed and MYMD said that they are currently evaluating several options with respect to their interest in Oravax including a potential distribution of Oravax shares to both Oramed and MYMD shareholders. It would make Oravax a publicly held company that may then apply for listing on Nasdaq if eligible.

MyMD recently announced that a human cell research study of its lead clinical compound MYMD-1 found the drug to be effective in suppressing the cytokine storm, a major cause of severity and death in COVID-19 patients.

A Phase 2 trial of MYMD-1 as a therapy for COVID-19-associated depression and cytokine elevation is expected to begin by the fourth quarter of 2021 with initial trial data expected in the first quarter of 2022.