Cyclacel jumps on promising data from early-stage cancer drug trail

Bio Green Med Solution

11/08/2022 14:17

** Shares of Cyclacel Pharmaceuticals  CYCC.O  jump 22% to
$1.62 premarket
    ** Drug developer says oral cancer drug fadraciclib showed
good tolerability in early-stage study with continuous dosing
and co expects to enter mid-stage trial in H2  urn:newsml:reuters.com:*:nGNX7JvBhL
    ** Brokerage Roth Capital says four-week dose cycle of drug
appears to be encouraging in the eyes of the investigators, but
it is too early in the trial to comment on efficacy 
    ** CYCC's market capitalization of $13.3 million is less
than half of its cash and short term investments of $29 million,
indicating weak investor sentiment - Refinitiv data
    ** Roth expects upcoming clinical trial results to change
investor sentiment for CYCC
    ** Up to Wednesday's close, stock had fallen 66% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))