"It goes beyond profits at this point," Sian Capital founder Anish Monga said. "You should have a drug that has gone through it studies by now."Activist Sian Capital, weeks after calling for diagnostics and pharmaceutical company Opko Health to consider a possible sale, is calling on the company to rapidly distribute its Rayaldee drug.
The activist investor, which has put at least $81 million into the Miami-based company, said Opko could be worth three times its current market cap of $2.7 billion, and asked for the firm toNow, with coronavirus cases spiking in the US and Europe, New York-based Sian is going after the company for allegedly dragging its feet on a potential COVID treatment that had its trials fast-tracked in June by the FDA.
Rayaldee, with its active ingredient vitamin D prohormone Calcifediol, raises the body's vitamin D levels, and has been used before the pandemic to treat chronic kidney disease. The FDA fast-tracked the drug in June to do trials to see its effectiveness in helping people who have COVID after doctors noticed COVID patients with kidney issues responded well to the medication.
Monga said it was expected for Opko's trials to get started in late summer with possible distribution of Rayaldee in the fourth quarter, but at a Jefferies conference last week, the company said it was just now enrolling participants in the trial — prompting Monga to write his letter, and roll out a website on the drug's benefits with a template for people to email congressional leaders about the drug.
jimcramer Help save lives. Your publicity and fame has the power to push companies forward such as that of Opko and its covid treatment Rayaldee. The US is already in horrible conditions against the virus... why should we allow our misery to prevail?
Boldfaced unhinged advertisement of vitamins under false pretenses of NOT existing connection to COVID19. When thousands of people are dying, these SHAMELESS companies are trying to make billions of $$ by promoting vitamins that are totally WORTHLESS for coronavirus treatment.
this is terrible news