Kintor’s Shares Crater After Trials of Chinese Drugmaker’s Covid-19 Pill Flop
Dou Shicong | Lin Zhiyin
DATE:  Dec 28 2021
/ SOURCE:  Yicai
Kintor’s Shares Crater After Trials of Chinese Drugmaker’s Covid-19 Pill Flop Kintor’s Shares Crater After Trials of Chinese Drugmaker’s Covid-19 Pill Flop

(Yicai Global) Dec. 28 -- Shares in Kintor Pharmaceutical plummeted as much as 84.7 percent today after the Chinese drug developer said that clinical trials for its Covid-19 pill did not meet the necessary criteria.

Kintor’s share price [HKG:9939] was trading down 68 percent at HKD14.48 (USD2) as of 1.30 p.m. China time today. Earlier in the day it had plunged to HKD6.91, a new low since listing in May last year.

An interim analysis of final stage clinical trials for the use of proxalutamide in the treatment of Covid-19 for non-hospitalized patients yielded unsatisfactory results, Kintor said yesterday. The Suzhou-based company will apply to amend the protocol in order to continue with the tests, it added.

All patients for the interim analysis were from the US, where there has been a significant shift in the disease pattern, Chairman and Chief Executive Officer Tong Youzhi told Yicai Global. High vaccination rates mean fewer patients are in critical condition, the treatment is improving and the age structure is becoming younger, making it is more difficult to see the therapeutic effect of the drug, he added.

The company plans to only enlist unvaccinated patients or those with co-morbidities in the next stage of its trials, Kintor said.

Proxalutamide, which is used to treat prostate cancer, has been shown to be effective in combating Covid-19. Kintor, whose main products are still at the research stage and have yet to generate any income, has been carrying out clinical trials in the US, South America, Asia and the European Union.

Editor: Kim Taylor

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Keywords:   Kintor Pharmaceutical,Covid-19