By Adriano Marchese

Aditxt Inc. said Friday that a Phase 3 trial evaluating favipiravir, a Covid-19 drug treatment with Appili Therapeutics Inc., failed to reach statistical significance.

Aditxt shares were down 25% at $1.36 in premarket trade.

The biotech innovation company said the trial which evaluated Avigan/Reeqonus, also known as favipiravir, as a potential at-home treatment for mild to moderate Covid-19 didn't achieve statistical significance on the primary endpoint of time to sustained clinical recovery.

Appili is a consortium partner of AiPharma Global Holdings LLC.

"We are reviewing and evaluating the announced results and data, and will be discussing them with AiPharma Global to determine the best course of action," Appili co-founder and Chief Executive Amro Albanna said.

Write to Adriano Marchese at adriano.marchese@wsj.com