Stock Alert: Taiwan Liposome Surges 59% On IND Application For TLC19

(RTTNews) - Shares of Taiwan Liposome Co. Ltd. (TLC) are gaining almost 60 percent in Friday's morning trade at $8.15.

Friday, the Taiwanese specialty pharmaceutical company said it has submitted an Investigational New Drug or IND Application to the Taiwan Food and Drug Administration or TFDA for TLC19 Hydroxychloroquine Liposome Inhalation Suspension for the treatment of COVID-19 disease.

TLC19 utilizes TLC's existing proprietary liposome technology to encapsulate about 1/100 of the oral HCQ dose into an inhalable formulation for direct deposit into the airways and lungs. The company said a Phase I clinical trial is expected to begin and will enroll healthy volunteers in Taiwan to collect pharmacokinetic and safety data on a new liposome formulation with the new inhalation route.

Taiwan Liposome has traded in a range of $2.48 to $12.65 in the past 52 weeks.