On Apr. 27, 2020, Mateon Therapeutics announced announced it has submitted an Investigational New Drug application to the FDA to study its investigational drug, OT-101, for the treatment of COVID-19 pandemic. The proposed randomized, double-blind, placebo-controlled Phase 2 study is intended to evaluate the safety and efficacy of OT-101 in adult patients hospitalized with COVID-19 and pneumonia in the U.S.

OT-101 is a potent inhibitor of SAR-CoV2 replication with efficacy and safety index on par or superior to Remdesivir- a Gileadﾒs drug. Unlike Remdesivir- OT-101 targets not only the virus replication but also the often lethal clinical sequelae of COVID-19, including pneumonia and fibrosis.