Pieris Stock Moves Higher On €14.2M Grant For PRS-220 In Post-COVID Pulmonary Fibrosis

by Vandana Singh, Benzinga Editor

June 25, 2021 9:18 AM | 1 min read | Make a Comment

Pieris Pharmaceuticals Inc PIRS has announced the development of PRS-220, an oral inhaled Anticalin protein targeting connective tissue growth factor to treat idiopathic pulmonary fibrosis (IPF).
The Company will also receive a €14.2 million (approximately $17 million) grant from the Bavarian Ministry of Economic Affairs, Regional Development, and Energy to research and develop PRS-220 for post-acute COVID-19 pulmonary fibrosis, also known as pulmonary fibrosis secondary to COVID-19 or "long COVID."
Clinical development of the program for both indications is expected to begin next year.
Price Action: PIRS shares are up 12.8% at $4.93 during the premarket session on the last check Friday.

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