Chemomab to start mid-stage trial of systemic sclerosis drug in 2023; shares rise

Chemomab Therapeutics

11/11/2022 14:49

** Shares of Israel-based drug developer Chemomab
Therapeutics  CMMB.O  up 12% at $2.33 in morning trade
    ** CMMB says it has completed planning a mid-stage trial of
CM-101 in patients suffering from systemic sclerosis, an
auto-immune disorder affecting skin  
    ** Co plans to enroll 60 sclerosis patients in trial
evaluating safety and tolerability of CM-101, expects to begin
enrollment in early 2023
    ** Co plans to report data from liver fibrosis trial in NASH
patients "in the coming weeks"
    ** CMMB also reports narrower-than-expected Q3 net loss of 4
cents per share - Refinitiv 
    ** Sees cash runway of $46.5 million as of Sept. 30, 2022 
to last through 2023-end 
    ** Up to Friday's close, stock was down ~70% YTD
 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com;))