This study is a multi-center, randomized, double-blind, parallel, placebo-controlled, phase III clinical trial to evaluate efficacy and safety of pyramax in mild to moderate COVID-19 patients.

Inclusion Criteria:

1. Adult males and females aged 19 years or older (or minimum age for adulthood or for informed consent below 19 years for each country)
2. Patients with body weight ≥45 kg at screening
3. Patients with COVID-19 confirmed by RT-PCR before randomization
4. Patients confirmed with mild or moderate COVID-19, along with one or more symptoms in association with COVID-19 within 5 days before randomization, who do not need adjunctive oxygen therapy
5. Patients who are fully informed of this study, voluntarily decide to participate in this study and provide written consent to comply with requirements for this study

Exclusion Criteria:

1. Patients with severe or critical* COVID-19

2. Patients requiring hospitalization for therapeutic purposes for COVID-19 such as oxygen therapy with a decrease of oxygen saturation (<94%) at screening or higher level of care, or who may be potentially transferred to another hospital other than the clinical trial institution within 72 hours.

3. Patients who have received or who have planned to receive any anti-viral drugs to treat COVID-19 infection or medications that may affect the course of treatment within 28 days before participating in this study or before a sufficient wash-out period [more than five times the half-life of the drug, etc.] (the longer period between the two is chosen).

4. Patients with one or more of the following infections in the past or present

   1. Infection with need for systemic anti-infection treatment other than Corona virus (SARS-CoV-2)
   2. Major infection with need for oral antibiotics or hospitalization within 30 days before administration of the investigational product by discretion of the investigator.

5. Patients with a known clinically significant anemia (Hemoglobin <8.0 g/dL)

6. Patients with a known severe renal impairment (eGFR ≤ 30 mL/min/1.73 m2)

7. Patients with a known severe hepatic dysfunction

8. Patients with a known allergic reaction to the active ingredients (pyronaridine tetraphosphate, artesunate) and other ingredients of the investigational product

9. Patients with a gastrointestinal disease or who underwent a surgery that can affect the absorption, distribution, metabolism and excretion of the drug, or who have active gastritis, gastrointestinal tract/rectal bleeding, gastric ulcer, and pancreatitis or pancreatic function abnormalities (excluding general appendectomy or hernia repair surgery)

10. Patients who cannot be orally administered with the Investigational Product

11. Pregnant, breast-feeding or females with positive pregnancy test at screening

12. Females and males who have child-bearing plan or who are unwilling to commit to the use of the following methods of contraception* during study period and for 3 months after the study period

13. Patients who have participated in another clinical study/device study and received the investigational product/device within 28 days from signing the informed consent

14. Patients with Co-morbidity requiring surgery within 7 days before administration of the investigational product, or life-threatening co-morbidity within 30 days before administration of the investigational product

15. Patients with history of alcohol or drug abuse within 12 months before administration of the investigational product

16. Patients whom the investigator considers inappropriate for the study due to chronic underlying disease or other reasons