On Mar. 30, 2021, Qx Therapeutics announced that the FDA had cleared the companyﾒs Investigational New Drug application (IND) for investigating its lead investigational drug product, QXT-101, for a Phase 2 clinical trial of the safety and efficacy of QXT-101 in hospitalized patients with severe or critical coronavirus disease 2019 (COVID-19). Qx Therapeutics planned to initiate enrollment of patients as early as May 2021.