Recce shares are going nuts after announcing an anti-viral drug

German Chancellor Angela Merkel. JOHN MACDOUGALL/AFP/Getty Images

Recce, a small Australian pharmaceutical research company, just announced that one its drugs has been found in tests to be an effective anti-viral.

A short time ago, the shares were up 30% to $0.30.

Recce specialises in the development of antibiotics and anti-cancer drugs.

But the latest results from independent testing in the US show its RECCE 327 drug to inhibit influenza in monkey cells.

Depending on the doses, the drug was up to 100% effective.

The biotech says the drug may be effective in searching for viruses and preventing the virus from spreading.

Recce has lodged a patent application.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.

Tagged In

biotech pharma reece