Tiziana Life Sciences PLC [NASDAQ: TLSA] disclosed today it has submitted an application for the use of Foralumab in the treatment of COVID-19. The combination of anti-viral & anti-inflammatory drugs proven to be very useful in the treatment of COVID-19 patients at different stages, recent clinical studies suggested.

Foralumab is known as NI-0401 is a fully-human monoclonal anti-CD3 antibody which is developed for the treatment of autoimmune & inflammatory diseases.

Foralumab nasal administration has the potential to improve the immune system. It also has the ability to put down the cytokines storm and decrease respiratory failure in COVID-19 patients. Foralumab nasal administration when combined with other anti-viral drugs plays an important role in improving treatment efficacy.

Shares of Tiziana soared 19.06% at $12.37 during the trading of Thursday. It had trading volume of 1.6 million as compared to the average volume of 305.68K. Tiziana has total market capitalization of 411.70 million.

In the past 52-weeks of trading, this company’s stocks have fluctuated between the low of $1.54 and a high of $12.61. It has moved up 703.25% from 52-weeks low and moved down -1.90% from its 52-weeks high.

A biotechnology company has a worldwide license for the nasal administration of Foralumab and other anti CD3 mAbs for the treatment of various diseases. Earlier, Tiziana has developed the nasal spray device using Foralumab. The firm has also disclosed the successful completion Phase 1 trial with the oral administration of Foralumab.