Amplia Therapeutics (ATX: $0.16) was targeting 24 patients to reach its first endpoint in its pancreatic cancer study with its drug candidate narmafotinib, that being a partial or full response in at least six patients. It has achieved that target (more than 30% metastatic tumour reductions measured mainly in the liver) from just the first 16 patients in the study.
The company will now expand the study to recruit 50 patients in total from sites in Australia and South Korea, with recruitment expected to be completed by the end of March.
Amplia's response rate so far of 37.5% (6/16) exceeds that achieved by the standard-of-care for the similar patient group back in 2013 of 23%. Of interest will be the durability of the response, and whether there is an improvement as the therapy progresses, which can be measured also by the length of period patients remain on treatment.
Narmafotinib works as an anti-fibrotic agent that is being targeted for stromal tumours, such as pancreatic and ovarian cancers, that are difficult to treat due to the highly fibrotic tissue network within the tumour. Pentrating the tumour with oncology drugs is therefore difficult.
The stock has been a strong performer this financial year, up 167%.
Amplia is capitalised at $44 million with $4.8 million in cash at the end of June at and a tax rebate of $3.2 million received in August.
Bioshares recommendation: Speculative Buy Class B
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