BL-8040 multiple applications and orphan drug status
BL-8040 has MULTIPLE applications including now the treatment of CML patients who have developed resistance to Gleevec. BL-8040 is currently undergoing a Phase 2 trial for AML and is expected to enter a Phase 1 trial for stem cell mobilization in the second quarter of this year, with top-line results for both of these studies expected in the fourth quarter of 2014.
Dr. Gautam Borthakur, the principal investigator from the world-renowned MD Anderson Cancer Center in Houston, stated, "... The initial results of the BL-8040 Phase 2 trial show a remarkable apoptotic effect of the drug on AML cancer cells, and the drug is exceptional in its ability to induce both mobilization of cancer cells from the bone marrow, as well as a concomitant cell death effect. I therefore have high hopes that this drug will become an important addition to the limited drug arsenal for AML treatment."
Exactly, this company is a sleeper. Probably because 50% of the shareholder base in on TASE. $36.1 million market capitalization is a bargain. With a 52-week range of $1.50 to $5.00, the risk/reward begs a resounding "buy" at current levels with no need for dilutive financing through the end of 2014. Raghuram “Ram” Selvaraju's $7.00 target at Aegis Capital is way too conservative in my opinion.