BioXyTran CEO Touts 'Sea Change' Antiviral at Noble Capital Markets Conference, Awaits Pivotal Phase 2 Dose Data
February 5, 2026 · by Fintool Agent
Bioxytran+2.46% (OTCQB: BIXT) CEO Dr. David Platt presented at Noble Capital Markets' Emerging Growth Virtual Equity Conference on February 5, making bold claims about the company's lead antiviral drug candidate and signaling that confirmatory clinical data could arrive within weeks.
The $4.4 million market cap biotech is betting its future on a novel approach to fighting viral infections—targeting galectin receptors on virus surfaces with polysaccharide-based drugs rather than modulating the immune system. If the upcoming data confirms earlier results, Platt characterized it as nothing less than "a sea change in antiviral infection treatment."
BIXT shares rose 15.5% on the day to $0.0491 on modest volume of 26,000 shares, though the stock remains down 78% from its 52-week high of $0.23.
The Phase 2 Numbers Platt Is Banking On
In his presentation, Platt highlighted data from the company's first Phase 2 double-blind, placebo-controlled trial of ProLectin-M, the lead antiviral candidate:
| Metric | ProLectin-M | Paxlovid (per literature) |
|---|---|---|
| Day 3 PCR Negative | 88% | — |
| Day 7 PCR Negative | 100% | — |
| Day 25 PCR Negative | — | 30% |
| Trial Design | Double-blind, placebo-controlled | — |
"The magnitude of that type of data is very high," Platt said. "This is the first time where we can actually design a polysaccharide for different viruses and treat them, not through the immune system... it's like antibiotics for viruses."
The comparison to Pfizer's+0.64% Paxlovid was drawn from published literature rather than a head-to-head study, which investors should note as a significant caveat.
Ask Fintool AI AgentConfirmatory Data "Coming Very Soon"
The critical near-term catalyst is data from a second Phase 2 trial designed to confirm the initial results and establish optimal dosing. The first trial used 10 tablets daily—a regimen Platt acknowledged "no one will take." The confirmatory study tested doses from 1 to 4 tablets.
"The data right now are crunched by our CRO, Contract Research Organization. We will publish them as soon as they will be available to the public," Platt said.
In October 2025, the company announced completion of this second randomized, double-blind trial, stating that "data from the trial is expected to inform both the CDSCO for a phase 3 trial design and will also be submitted to the FDA pursuant to their request."
The Galectin Science: A 40-Year Bet
Platt's credibility hinges significantly on his scientific background. He claims to have expressed the gene for galectin for the first time 40 years ago and co-coined the term "galectin." The field has since generated over 11,000 publications.
The core thesis: all 2,800+ known viruses have galectin receptors on their surfaces. These receptors are "conserved"—meaning they don't mutate significantly—potentially making galectin-targeted drugs resistant to the viral mutations that undermine vaccines and other treatments.
"The galectin is sitting here and recognizing the polysaccharide on the host or what the cell that it's infected... Since the galectin is conservative, mutation of the virus does not affect the viral antiviral activity," Platt explained.
The company has partnered with the University of Minnesota under a Sponsored Research Agreement announced February 2, with Dr. Kevin Mayo—Platt's longtime collaborator—leading NMR-based research on carbohydrate-binding interactions through early 2027.
The Partnership Hunt: "Can You Do 10 Billion Tablets?"
Platt explicitly outlined the company's commercialization strategy: secure a pharma partner or large marketing company to fund Phase 3 trials and bring the drug to market.
"We're trying to get a deal with a drug company or with a large marketing company... Part of the question that we are receiving now from potential collaborators: Can you do 10 billion tablets? Can you do 20 billion tablets? What is your capacity on the supply chain?"
The company is targeting the estimated $80 billion global antiviral market with claims that ProLectin-M could address COVID-19, influenza, RSV, shingles, long COVID, and viral conjunctivitis.
Ask Fintool AI AgentBeyond Antivirals: The Oxygen Carrier From Camels
BioXyTran's pipeline extends beyond virology. Platt detailed BXT-25, an oxygen-carrying molecule derived from camel hemoglobin that's 5,000 times smaller than red blood cells.
The drug is designed for early-stage stroke treatment—delivering oxygen to brain tissue before patients can receive clot-dissolving therapy or thrombectomy at a hospital. The company secured GMP-quality camel hemoglobin supply in June 2025 through a $10 million joint venture with the Heme Foundation.
"You can actually boil that, and nothing will happen because it's a polysaccharide and a heme. We call it universal oxygen carrier," Platt said, adding the product is stable at room temperature for at least 5 years.
BXT-25 is paired with an FDA-approved device (510(k) cleared) that can detect local tissue oxygenation, developed by team member Avraham Mayevsky over 60 years of research.
The Cash Crunch Reality
For all the scientific optimism, BioXyTran's financials tell a different story. The company's Q3 2025 10-Q disclosed:
| Metric | Nine Months Ended Sept 30, 2025 |
|---|---|
| Net Loss | $1.6 million |
| Cash (End of Period) | $14,499 |
| Net Cash Used in Operations | ($289,484) |
The company stated it needs $3.7 million to fund operations for approximately 15 months. Officers have been forfeiting payroll to keep the company running, with $941,890 in officer payroll forgiveness recorded during the period.
What to Watch
Near-term catalyst: The confirmatory Phase 2 dose-response data could arrive within weeks. Positive results matching the initial trial's efficacy profile would be material.
Partnership announcement: Any licensing or collaboration deal with a larger pharmaceutical company would transform the investment thesis and potentially solve the funding constraint.
FDA engagement: The company has an FDA IND (IND #153742) approved for a U.S.-based trial, though it has not yet initiated enrollment. Progress on this front would signal regulatory confidence.
Dilution risk: With minimal cash and ongoing losses, further equity financing appears inevitable absent a partnership deal.
Ask Fintool AI AgentRelated: Bioxytran+2.46% · Pfizer+0.64%