Aridis Shares Rise On Funding For Inhaled Monoclonal Antibodies Against Influenza, COVID-19

The Bill & Melinda Gates Foundation has granted $1.9 million to Aridis Pharmaceuticals Inc (NASDAQ:ARDS) to evaluate Aridis' inhaled monoclonal antibodies (mAbs) against influenza and COVID-19 for low- and middle-income countries.

• The mAbs will be manufactured using a spirulina-based platform technology developed by Lumen Bioscience. 
• Lumen Bio's platform can produce therapeutic proteins at lower costs than conventional mammalian cell line technologies.
• Related: Aridis Stock Rallies After Positive Preclinical Data For COVID-19 Antibody Against Omicron.
• Aridis' formulation technology enables self-administration of prophylactic and therapeutic antibodies directly to the upper or lower airways of the respiratory tract.
• Local delivery substantially of therapeutics reduces the dose required to achieve a therapeutic effect (over 100-fold compared to intravenous or intramuscular injections).
• Aridis' formulation technology has demonstrated the ability to stabilize mAbs at room temperature and packaged in a compact powder capsule for delivery from disposable dry powder inhalers.
• It also funds animal safety and efficacy testing in virus challenge animal models. 
• Pending the outcome of preliminary results, the Gates Foundation has the option to continue funding through preclinical IND enabling activities and through Phase 1/2a human trial. 
• Price Action: ARDS shares up 27% at $2.21 during the premarket session on the last check Thursday.