Kamada Ltd. (NASDAQ: KMDA) took a big step in the fight against COVID-19 on Tuesday when the biopharmaceutical company announced initial interim results from its ongoing midstage coronavirus study of its treatment of COVID-19 patients with pneumonia.

Specifically, the results come from the ongoing Phase 1/2 clinical trial in Israel of the company’s anti-SARS-CoV-2 plasma-derived hyperimmune immunoglobulin (IgG) product as a potential treatment for COVID-19.

A total of 12 eligible patients (age 34 to 69) were enrolled in the trial and received the company’s product at a single dose of 4g IgG within five to 10 days of initial symptoms. Patient follow-up will occur for 84 days.

So far, five of the 12 patients have completed 21-day post-treatment follow-up, two patients have completed 14-day post-treatment follow-up and the additional five patients have completed seven-day post-treatment follow-up.

Symptoms improvement was observed in 11 of the 12 patients within 24 to 48 hours from treatment. All 11 patients were subsequently discharged from the hospital within a median hospital stay of 4.5 days from treatment.

Management expects that the final trial results will be available by January 2021 and that they will support the clinical plan to advance its IgG product as a potential treatment for hospitalized COVID-19 patients.

The U.S. Food and Drug Administration (FDA) recently issued an Emergency Use Authorization for convalescent plasma as a potential treatment for COVID–19. The plasma-derived IgG product, as developed by Kamada, is considered to have multiple advantages over convalescent plasma transfusion, such as standardized antibody levels, higher potency, extensive viral inactivation processing, the absence of a blood-type matching requirement, smaller infusion volumes and the ability to be produced in large quantities.

Kamada stock traded up about 8% to $9.45 on Tuesday, in a 52-week range of $4.40 to $13.33. The consensus price target is $11.00.

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