ZIVO Reports Negative Results Of Study With Product Candidate For Coccidiosis Treatment In Chickens

(RTTNews) - Zivo Bioscience Inc. (ZIVO) announced negative results of a four-month study performed by a third party on behalf of a potential partner company, which included a 42-day coccidiosis trial in broiler chickens.

ZIVO closed Friday's regular trading at $3.36 down $0.01 or 0.30%. In the after-hours trading, the stock further dropped $0.76 or 22.62%.

The study, which evaluated the company's novel immune-modulating biologic for treating coccidiosis in broiler chickens, produced questionable results due to a high disease burden among tested chickens.

According to the company, the pathogen inoculation used in the study produced an unexpectedly strong and concentrated disease challenge that resulted in a mortality rate 4-5 times higher than a typical study, and not representative of conditions expected in commercial broiler production houses.

"Today's news is a disappointing development for ZIVO Bioscience because we were expecting a favorable result from this latest test, as we have seen from numerous similar studies ZIVO has conducted and published," said John Payne, Chairman, Chief Executive Officer and President of ZIVO Bioscience.

Due to an unexpectedly high mortality rate among tested chickens, ZIVO plans to conduct a new study with results expected by mid-year.

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