Penny stock Cyclacel Pharmaceuticals Inc (NASDAQ: CYCC) was sinking lower Tuesday after the nanocap biotech's announcement concerning a paper published by independent investigators in the Journal of Clinical Oncology regarding the protein expression and efficacy of a drug to treat HR-positive and HER-negative breast cancer.
Cyclacel said the study findings identified overexpression of the protein cyclin E1 as being responsible for breast cancer escaping the effect of Pfizer Inc. (NYSE: PFE)'s palbociclib — a CDK4/6 inhibitor —plus fulvestrant.
How does this finding help Cyclacel? Cyclacel's clinical-stage candidate CYC065, its second-gen CDK2/9 inhibitor, targets CDK2/cyclin E complex and is proposed as a potential therapeutic option to prevent early progression on CDK4/6 inhibitor.
After rising as high as 24 percent intraday Monday, the stock gave back all its gains and ended flat at 95 cents.
Why It's Important
Cyclacel has initiated a Phase 1 trial evaluating its CYC065 in combination with venetoclax in patients with relapsed/refractor CLL, while it reported data from a Phase 1 Part 1 study of CYCO65 as a monotherapy in advanced solid tumors at a conference in 2018.
At last check, Cyclacel shares were sliding 7.8 percent to 88 cents.
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