The FDA granted emergency use authorization to an InflaRx antibody drug that treats hospitalized Covid-19 patients. But Pardes Bioscience’s coronavirus journey is ending following the Phase 2 failure of an antiviral that was expected to compete with Pfizer’s Paxlovid.
Pardes Biosciences’ experimental oral antiviral for treating and preventing Covid-19 infection addresses the same target as Pfizer’s authorized pill Paxlovid, but with a potential dosing advantage. The Pardes pill is in Phase 1 testing, and the biotech joined the public markets this week after completing a SPAC merger that infuses the company with $274 million.
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Pardes Biosciences advanced from concept to drug candidate in less than nine months. The preclinical biotech is developing an oral antiviral for Covid-19 and other coronavirus infections and it is going public in a SPAC merger that will infuse it with $276 million.