The Recce Pharmaceuticals Ltd (ASX: RCE) share price rose 7% this morning after the company shared good news of its drug, RECCE 327 (R327). The gains come on the back of the successful treatment of a terminally ill human with the antivirus.
At the time of writing, the Recce share price is trading for $1.04, up 6%.
Let's look closer at the announcement driving the Recce share price today.
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Positive results in human treatment
Recce has announced today that its product has been used to treat a drug-resistant sinus infection in a human.
Consequently, a 59-year-old man was successfully treated with nasality administered R327. His treatment was allowed under strict medical oversight after it was determined that death was likely to occur unless a new treatment was found. Just 90 minutes after first the treatment of R327, he reported his sinuses felt clearer and also less inflamed.
After 3 days of treatment, many of the man's symptoms had stopped. It was also reported that he experienced no side effects. In addition, samples taken from the man after the treatment showed no sign of the infection or abnormalities caused by R327. Prior to treating with R327, he had received surgeries and multiple antibiotic treatments, including some meant as a last resort.
Today's news comes nearly a week after the company announced it received positive results from the use of R327 in an animal study. The drug was used to treat sinus infections in mice. Recce has also submitted R327 to the Therapeutic Goods Administration (TGA). R327 is part of a family of synthetic anti-infectives currently being created by Recce.
Commentary from management
Recce's chief medical officer James Graham, commented on the successful treatment of a human with R327:
We are thrilled by this positive indication for this patient with a terribly debilitating condition that has been driven over many years by this recalcitrant pathogen.
Recce Pharmaceuticals share price snapshot
The Recce Pharmaceuticals share price isn't having a good year on the ASX, with today's news bringing a much-needed boost.
Currently, it's down 3% year to date. Although, it is up by 191% over the last 12 months.
Recce Pharmaceuticals has a market capitalisation of around $170 million, with approximately 173 million shares outstanding.
