Can-Fite BioPharma (CANF) stock jumped as much as 65% on Wednesday after the company released results from its Phase 2a study of Namodenoson in advanced pancreatic ductal adenocarcinoma (PDAC). The stock was trading around $2.97 per share following the announcement.
The open-label study enrolled 20 patients — all of whom had already progressed on standard treatments. Fourteen received Namodenoson as a third-line therapy, five as second-line, and one as fourth-line.
The trial met its primary safety endpoint. The drug was well tolerated, with a safety profile consistent with earlier studies.
In an updated survival analysis of eight evaluable third-line patients who survived at least two months after starting treatment, median overall survival exceeded five months. That’s a meaningful bar in a disease where options are extremely limited at this stage.
Of those same patients, 62.5% survived five months or longer. 37.5% survived seven months or longer. Two patients were still alive at the data cutoff.
The second-line group produced an eye-catching data point. One patient remained alive more than 18 months after beginning Namodenoson therapy — the longest survivor in the entire study.
Prof. Salomon Stemmer, who leads the Phase 2a study at the Davidoff Institute of Oncology at Rabin Medical Center in Israel, called the results from Namodenoson monotherapy “impressive.”
He pointed to the favorable safety profile and the prolonged survival seen in a subgroup of patients as evidence of biological activity worth investigating further. He said the next logical step is evaluating Namodenoson in combination with chemotherapy.
Preclinical data has shown the drug can enhance the anti-tumor activity of chemotherapeutic agents in pancreatic cancer models, which forms the basis for that next step.
Can-Fite plans to move Namodenoson into a Phase 2b combination study with chemotherapy, building on both the Phase 2a results and that preclinical data.
The company has a market cap of just $5.87 million and a GF Score of 55 out of 100, reflecting moderate growth potential but low marks for profitability (1/10) and financial strength (4/10).
There has been no insider buying or selling activity in CANF over the past 12 months.
The P/S ratio currently stands at 5.32. For a clinical-stage biotech of this size, the trial data is driving the action — not the fundamentals.
The post Can-Fite BioPharma (CANF) Stock Jumps 65% on Pancreatic Cancer Drug Data appeared first on CoinCentral.
