Scopus BioPharma soars on FDA approval

Drug company Scopus BioPharma Inc. (Nasdaq: SCPS), has reported that the US Food and Drug Administration (FDA) has approved the start of a clinical trial for the company's RNA cancer therapy (CpG-STAT3siRNA), developed in cooperation with the City of Hope hospital in California. A Phase 1 clinical trial for B-cell non-Hodgkin lymphoma will be initiated at City of Hope.

At one stage in yesterday's session, Scopus Biopharma's share price was up 100%. It closed up nearly 80%.

Scopus BioPharma has an Israeli connection in that one of its founders, Dr. Morris Laster is an American-Israeli. Laster has over 30 years' experience in the drugs industry, and in the past he founded, or co-founded, and managed companies such as BioLineRx Ltd. (Nasdaq: BLRX), Keryx Biopharmaceuticals, merged in December 2018 with Akebia Therapeutics, Inc. (Nasdaq: AKBA), and Kitov Pharma Ltd. (Nasdaq: KTOV).

The company also collaborates extensively with the Hebrew University of Jerusalem, among other things on the development of CBD-based drugs and pain relievers.

Published by Globes, Israel business news - en.globes.co.il - on May 25, 2021