Can-Fite (CANF) Up on Namodenoson Progress in Pancreatic Cancer
Can-Fite BioPharma CANF announced that it is making significant progress in the development of namodenoson, a potential treatment for pancreatic carcinoma. The company is currently conducting pre-clinical studies and preparing for an investigational new drug (IND) submission to the FDA. Shares of CANF were up almost 11.4% on Jun 13, following the news.
Namodenoson is a small orally bioavailable drug that binds with high affinity and selectivity to the A3 adenosine receptor.
Pre-clinical studies have shown that namodenoson has a strong ability to stop the growth of pancreatic cancer cells in both men and women. The candidate was able to reduce cell growth by 90% in a dose-dependent manner. This indicates that namodenoson has the potential to effectively treat pancreatic carcinoma.
Can-Fite is preparing to initiate an open-label phase II exploratory study to assess the safety and efficacy of the candidate in pancreatic cancer patients who have previously received systemic therapy.
Those enrolled in the study will receive an oral dose of 25 mg of namodenoson twice daily. The study’s endpoints will encompass various aspects, including safety, objective response, progression-free survival, duration of response, disease control and overall survival.
Shares of Can-Fite have nosedived 52% year to date compared with the industry’s 0.5% decline.
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The IND application will be based upon the data previously shared with the regulatory agency regarding the development of namodenoson as a treatment for advanced liver cancer.
CANF is currently developing namodenoson in a pivotal phase III study for treating hepatocellular carcinoma. The study is currently enrolling patients. The candidate is also being evaluated in a phase IIb study to treat non-alcoholic steatohepatitis.
Namodenoson received the Orphan Drug Designation in both Europe and the United States. It was also awarded the Fast Track Designation by the FDA as a second-line therapy for hepatocellular carcinoma. These designations provide Can-Fite with additional market exclusivity and expedited regulatory paths.
Additionally, namodenoson demonstrated proof of concept for potential application in treating various cancers such as colon, prostate and melanoma. The pre-clinical candidate, CF602, also exhibited effectiveness in addressing erectile dysfunction.
Can-Fite Biopharma Ltd Price and Consensus
Can-Fite Biopharma Ltd price-consensus-chart | Can-Fite Biopharma Ltd Quote
Zacks Rank and Stocks to Consider
Can-Fite currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Akero Therapeutics AKRO, ADMA Biologics, Inc. ADMA and Omega Therapeutics OMGA, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Loss per share estimate for Akero Therapeutics has narrowed from $3.46 to $2.80 for 2023 in the past 90 days. Shares of Akero Therapeutics have risen 3.8% year to date.
AKRO’s earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 7.96%.
Loss per share estimate for ADMA Biologics has narrowed from 19 cents to 9 cents for 2023 in the past 90 days. Shares of ADMA Biologics have nosedived 3.1% year to date.
ADMA’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.13%.
Loss per share estimate for Omega Therapeutics has narrowed from $2.51 to $2.05 for 2023 in the past 90 days. Shares of the company have rallied 41.8% year to date.
OMGA’s earnings beat estimates in two of the trailing four quarters, met the mark in one and missed in another, delivering an average surprise of 8.24%.
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