Faron Pharmaceuticals Oy (LON: FARN) have seen their shares in green after the firm gave an update about their Clevegen clinical trial performance.
Faron Pharmaceuticals is clinical stage biopharmaceutical company developing novel treatments for medical conditions with significant unmet needs.
Last week, the firm gave shareholders an impressive update entailing the winning of regulatory approval for a cancer medication, which sent shares soaring.
The US Food & Drug Administration approved the IND application for Clevegen, an immunotherapy targeting tumour associated with macrophages in some metastatic or inoperable solid tumours.
Today, the firm has updated the market about the performance of Clevegen in its clinical trial phase.
Some of the cancer types Clevegen could be used in include cutaneous melanoma, hepatobiliary/hepatocellular, pancreatic, ovarian, and colorectal.
“We have always believed Clever-1 to be a master regulator of immunity, but we are very encouraged to find Clevegen can down regulate a range of major inhibitory immune checkpoints, that current immuno-oncology therapies aim to suppress,” said Chief Executive Markku Jalkanen.
“We intend to carry out further analysis of other Matins patients and aim to understand which combination of immuno-oncology therapies would build the optimal host immune activation for various cancer types or individuals. To have one single and safe treatment as early as possible would improve patient outcome,” Jalkanen continued.
“These results indicate Clevegen treatment could potentially allow increased efficacy of other immuno-oncology treatments through the biomarker analysis of patient’s blood cells post Clevegen induced immune activation, finally offering a biological rational to guide combination therapies.”
In the pharmaceuticals industry, the market has been busy. Last week, FTSE100 listed GlaxoSmithKline plc updated the market saying that they had completed submission of a new drug application to the US Food & Drug Administration, seeking approval of fostemsavir.
ViiV Healthcare is majority owned by GSK, with rival firms Pfizer Inc and Shionogi Ltd as a minority shareholders.
Across the last two weeks, shareholders of Faron will be thoroughly impressed. There will be a hope that the solid performance at the end of 2019 can be carried through 2020 so shareholders see good returns and positive trading updates.
Shares of Faron Pharmaceuticals trade at 289p, rising 3.21% on the announcement. 11/12/19 11:57BST.