Portage Biotech rises on interim data from cancer treatment trial

Alpha Compute

05/06/2023 14:28

** Shares of Canada-based cancer therapy developer Portage
Biotech Inc  PRTG.O  rise 5.75% to $3.86 premarket 
    ** Co announces interim data from an early-stage trial
evaluating its therapy PORT-2 alone and in combination with
Merck & Co Inc's  MRK.N  Keytruda in patients with types of skin
and lung cancer
    ** Says data shows early evidence of single agent activity
for PORT-2, with interim tumor assessment data showing several
target lesions were substantially reduced in size or completely
resolved, and a majority of target lesions being clinically
stable after 12 weeks
    ** Co plans to expand portion of the trial to evaluate
higher dose levels, data anticipated by end of 2023
     ** Adds data will be used to confirm the recommended
mid-stage dose of PORT-2 and clinical trial strategy for the
mid-stage portion of the trial
    ** Up to last close, stock down ~31% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))