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Molecular Partners Uptick Continues, Gains 13%

Shares of Molecular Partners AG (MOLN) are currently gaining over 13% on Tuesday morning. On Monday, Novartis said it would license antiviral Covid-19 treatment ensovibep from Molecular Partners after positive trial results.

MOLN is currently trading at $24.30, up $2.80 or 13.02%, on the Nasdaq.

Molecular Partners, a clinical-stage biotech company developing a new class of custom-built protein drugs known as DARPin therapeutics, and Novartis announced that Part A of the EMPATHY clinical trial, that compared single intravenous doses of ensovibep with placebo to treat COVID-19, met the primary endpoint of viral load reduction over eight days.

The two secondary endpoints also showed clinically meaningful benefit over placebo composite endpoint of hospitalization and/or Emergency Room (ER) visits or death, and time to sustained clinical recovery.

Novartis confirms it will now exercise its option to in-license ensovibep from Molecular Partners and, following exercise of the option, will seek expedited access globally, first via the FDA's EUA process.

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