March 3, 2020 / 3:03 PM / a month ago

Pharmamar shares jump after saying compound could treat coronavirus

March 3 (Reuters) - Shares in Pharmamar rose sharply on Tuesday after the Spanish pharmaceutical company said its Aplidin therapeutic compound could be effective in treating coronavirus.

Pharmamar said Aplidin could block a protein that scientific publications have shown to be necessary for the coronavirus to reproduce and spread.

According to the company, Aplidin, which is approved for the treatment of multiple myeloma in Australia, would block the EF1A protein and make the reproduction of the virus inside the cell unfeasible.

Pharmamar plans to carry out laboratory confirmation tests during the next month, it said.

At 1457 GMT shares rose 14.8%, leading gains on the Madrid SE General Index. (Reporting by Joanna Jonczyk-Gwizdala in Gdansk; Editing by Nathan Allen)

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