Theralase Tech Inc Com NPV (OTCMKTS:TLTFF)
Shares of Theralase Tech Inc Com NPV (OTCMKTS:TLTFF) continued to surge in the last session supported by positive news the company released earlier this week about the ongoing clinical trial of its lead cancer drug candidate.
The stock rose 5.6% to close at $0.37 in the last session after rallying between a low of $0.35 and a high of $0.37 during the day. The stock has risen 92.3% since the year began.
The movement in Theralase Tech Inc Com NPV (OTCMKTS:TLTFF) in the last session came on unusually heavy volume. More than 162,000 shares changed hands, substantially higher than the daily average of about 116,000 over the last couple of months.
Positive clinical trial outcome
Theralase Tech Inc Com NPV (OTCMKTS:TLTFF) provided an additional update on the progress of the clinical trial of its cancer drug candidate TLD-1433. The update was for the outcome of the first part of a Phase Ib clinical study of the drug. Theralase is developing TLD-1433 as a treatment for cancer of the bladder.
In the additional update, Theralase Tech Inc Com NPV (OTCMKTS:TLTFF) said that the study of TLD-1433 in patients afflicted with non-muscle invasive bladder cancer (NMIBC) achieved its exploratory endpoint of efficacy. The analysis that led to this conclusion was done after 90 days of treating the patients with TLD-1433 using maximum recommended starting dose (MRSD) – (0.35 mg/cm2).
The exploratory efficacy milestone with TLD-1433 was achieved in three patients who had failed standard treatments and had remained drug resistant after an initial course of treatment with a standard care.
Primary and secondary endpoints achieved
In the Phase Ib study, the primary objective was to evaluate the safety of tolerability of TLD-1433 in three patients. Theralase Tech Inc Com NPV (OTCMKTS:TLTFF) reported earlier that those primary endpoints were successfully achieved. The secondary endpoints in the study were pharmacokinetics, which means movement and exit of drug within tissue, and exploratory endpoint of efficacy. Now the efficacy evaluation of TLD-1433 has also turned out to be successful and that has raised hopes about getting the product to market.
Theralase Tech Inc Com NPV (OTCMKTS:TLTFF) CEO, Roger Dumoulin-White, said the following about the efficacy milestone:
“The Company is ecstatic that after decades of hard work the Company, in the first 3 patients treated, at the 90 day cystoscopy follow-up, at a MRSD (0.35 mg/cm2) of TLD-1433, that the primary endpoint of safety and tolerability, secondary endpoint of pharmacokinetics (movement and exit of drug within tissue) and now exploratory endpoint of efficacy have been achieved.”
Clinical trials continue
Clinical trials of TLD-1433 continue. Theralase Tech Inc Com NPV (OTCMKTS:TLTFF) is enrolling additional six patients into the second part of the Phase Ib study. Those patients too will also be treated for NMIBC.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.