Processa Pharma rises as cancer treatment shows promise in early-stage study
25/01/2024 15:31
(Updates)
** Drug developer Processa Pharmaceuticals' PCSA.O shares
more than double to $5.22
** Stock set for biggest one day pct rise in more than 6
years if gains hold
** Company says four of five patients that completed an
efficacy analysis during an early-stage study of its
experimental cancer treatment Next Generation Capecitabine, in
gastrointestinal cancer, showed a positive response
** The treatment, that is a combination of PCSA's cancer
therapy candidate PCS6422 and Roche's approved chemotherapy drug
capecitabine, showed drug levels achieved in patients' bodies
that were 2-10 times higher than capecitabine alone
** The mid-stage trial of the treatment will be for types of
breast cancer following company's agreement with U.S. FDA that
the early-stage data can be used to support the study
** Stock down 74.7% in the last 12 months
(Reporting by Puyaan Singh)
((Puyaan.Singh@thomsonreuters.com))