SOUTH SAN FRANCISCO - 23andMe Holding Co. (NASDAQ:ME), a company specializing in human genetics and biopharmaceuticals, has reported encouraging preliminary Phase 2 safety and efficacy data for its experimental drug 23ME-00610. The data was presented at the American Society of Clinical Oncology Annual Meeting, which took place from May 31 to June 4.
The drug, an anti-CD200R1 antibody, is being tested as a monotherapy for neuroendocrine and ovarian cancers. A patient with pancreatic neuroendocrine cancer showed a confirmed partial response to the treatment, which has been ongoing for more than 21 months. Additionally, a patient with mesonephric adenocarcinoma, a form of ovarian cancer, experienced tumor shrinkage and other signs of clinical benefit after more than 12 treatment cycles.
23ME-00610 has met its prespecified targets for maximal pharmacology at a 1400 mg dose administered every three weeks. The treatment has maintained an acceptable safety and tolerability profile, with no treatment-emergent adverse events leading to discontinuation reported in the neuroendocrine cancer cohort. The most common related treatment-emergent adverse events were mild to moderate and included maculopapular rash and pruritus.
The company also noted that over 70% of patients displayed detectable tumor cell CD200, with higher expression levels trending toward clinical benefit. This suggests that CD200 could serve as a potential biomarker for the efficacy of 23ME-00610 monotherapy.
Jennifer Low, M.D., Ph.D., Head of Therapeutics Development at 23andMe, expressed satisfaction with the progress of 23ME-00610 as a monotherapy, citing its potential for inhibiting CD200R1 in cancer patients. She also highlighted the drug's safety profile and potential for combination therapy strategies.
The company's research draws from its proprietary database of health and genetic information, identifying genetic variants associated with immune diseases and cancer risks. These findings have positioned CD200R1 as a promising target in immuno-oncology.
The information in this article is based on a press release statement from 23andMe.
InvestingPro Insights
As 23andMe (NASDAQ:ME) continues to make strides in the development of its experimental drug 23ME-00610, investors are keeping a close eye on the company's financial health and market performance. According to the latest InvestingPro data, 23andMe has a market capitalization of $267.29 million. Despite the company's potential in advancing cancer therapeutics, analysts have raised concerns about its financial stability. One of the InvestingPro Tips points out that 23andMe is quickly burning through cash, which could be a red flag for investors considering the long and costly process of drug development.
Moreover, the company's stock price has experienced a significant decline over the last year, with a 73.4% drop in the 1-year price total return. This is in line with another InvestingPro Tip, which highlights that 23andMe's price has fallen considerably. Additionally, the company's revenue has seen a decrease, with a -26.66% change in revenue over the last twelve months as of Q4 2024. This could be indicative of challenges in generating sustainable growth amidst its research and development efforts.
While the company's advancements in therapeutics are promising, the financial metrics suggest a careful approach to investment. For those interested in a deeper dive into 23andMe's financials and additional insights, there are more InvestingPro Tips available, which can be accessed with the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With these resources, investors can make more informed decisions based on comprehensive analysis and real-time data.
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