Fujifilm Holdings Corp. announced Wednesday that a phase III clinical trial of the COVID-19 drug candidate, Avigan, could speed up the recovery period for patients who do not show severe illness.
The company is also optimistic that Avigan will receive permission to use from the Japanese government involved 156 patients in Japan.
The test results showed patients who took Avigan recovered after 11.9 days, while patients who did not take the drug recovered after 14.7 days.
Fujifilm Toyama Chemical, a subsidiary of Fujifilm that is holding clinical trials, said in a written release with statistical data shows the results of the trial.
Following that announcement, Fujifilm's stock reportedly rose more than four percent, the highest figure in four months, on the Tokyo stock market.
Former Japanese prime minister, Shinzo Abe, had mentioned that Avigan has the potential to cure COVID-19, a disease caused by the SARS-CoV-2 virus.
The drug is one of Japan's contributions to tackling the pandemic. The company is trying to get a permit to use Avigan for domestic use in May.
The government asked Fujifilm to triple Avigan's supplies. The drug has received usage permission for cold medicine. Japan is also willing to donate Avigan to other countries if requested.
However, the shortage of COVID-19 patients in Japan is hampering Avigan's clinical trial process. Scientists from Fajita Health University in July said their results failed due to a lack of statistical data.
Fujifilm, through its written broadcast, said that it will study the test results and would apply for permission to use COVID-19 patients as early as October 2020.