After Famed COVID-19 Pill, Pfizer Inks Research Pact For Another Antiviral Candidate - Pfizer (NYSE:PFE)

Pfizer Inc PFE and Clear Creek Bio Inc announced a research collaboration and exclusive license agreement to advance the discovery and development of potential SARS-CoV-2 papain-like protease (PLpro) inhibitors for the oral treatment of COVID-19. The financial terms were not disclosed.
PLpro is an essential enzyme, along with the main protease (Mpro), which plays a vital role in viral replication.
This program will expand Pfizer's anti-infective pipeline and, if successful, will complement Pfizer's existing portfolio of COVID-19 products with direct-acting antiviral agents against different SARS-CoV-2 targets.
Related: National Institutes of Health's Long COVID Initiative To Assess Pfizer's Antiviral Pill As Potential Treatment.
Pfizer already has a COVID antiviral pill Paxlovid, which the drugmaker expects to generate about $22 billion in revenue in 2022.
Under the terms of the agreement, the two companies will work together to identify a PLpro candidate to progress into the clinic. At that time, Pfizer will be solely responsible for further development and commercialization activities.
Clear Creek Bio will receive an undisclosed upfront payment and be eligible for additional potential milestone payments plus royalties on future product sales.
Price Action: PFE shares are down 2.33% at $49.55 on the last check Tuesday.
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