This update is based on a press release statement from Bio-Path Holdings (NASDAQ:BPTH), Inc. The company's forward-looking statements are subject to changes in circumstances and uncertainties, including the ability to secure additional capital and the potential impact of global pandemics like COVID-19. InvestingPro data shows the company maintains more cash than debt on its balance sheet, though its Financial Health Score remains weak at 1.43. Analysts have set a price target of $12, suggesting significant potential upside for investors willing to accept the risks of early-stage biotech investment. InvestingPro data shows the company maintains more cash than debt on its balance sheet, though its Financial Health Score remains weak at 1.43. Analysts have set a price target of $12, suggesting significant potential upside for investors willing to accept the risks of early-stage biotech investment.
Bio-Path's Phase 2 AML trial utilizes a biomarker package designed to identify patients more likely to respond to its drug prexigebersen. The trial includes three cohorts, with each potentially leading to separate FDA approval. The first two cohorts involve a triple combination therapy, while the third addresses patients resistant or intolerant to venetoclax. With an EBITDA of -$12.35 million in the last twelve months, the company expects to complete the second cohort and conduct an interim analysis of the third cohort in 2025. InvestingPro subscribers can access 10+ additional key financial metrics and insights about Bio-Path's development pipeline.
In parallel, a Phase 1/1b trial of BP1001-A for advanced solid tumors is underway. The drug, a variant of prexigebersen, has shown promise in a patient with gynecologic cancer, who experienced tumor reduction and improved quality of life. Further dosing cohorts and combination therapy studies are slated for 2025.
A separate Phase 1/1b trial for BP1002, targeting the Bcl-2 protein associated with many cancers, is also in progress. This trial aims to benefit patients resistant to venetoclax, with rapid enrollment indicating a high demand for new treatments.
Moreover, Bio-Path is exploring BP1001-A's potential in reducing blood glucose levels in Type 2 diabetes patients. Following preclinical success, the company anticipates filing an Investigational New Drug (IND) application with the FDA later in the year.
The company's intellectual property portfolio includes issued patents in the U.S. and abroad, covering its DNAbilize technology and allowing for new 20-year patents as the technology is applied to new protein targets.
This update is based on a press release statement from Bio-Path Holdings, Inc. The company's forward-looking statements are subject to changes in circumstances and uncertainties, including the ability to secure additional capital and the potential impact of global pandemics like COVID-19.
In other recent news, Bio-Path Holdings, Inc. has reported a potential breakthrough in the treatment of obesity and related metabolic disorders in Type 2 diabetes patients. The company's preclinical studies suggest that BP1001-A could be a promising treatment, with findings indicating the drug's ability to enhance insulin-induced metabolic activities. In the face of these encouraging results, Bio-Path has begun animal studies to further investigate BP1001-A's efficacy.
In terms of financials, the company reported a net loss of $2.1 million for the third quarter of 2024, showing an improvement from the $3.2 million loss reported in the same period last year. The company maintains a positive cash position relative to debt, according to InvestingPro.
However, Bio-Path is facing potential delisting from the Nasdaq due to its stock price not meeting the minimum bid price requirement. The company has until June 10, 2025, to regain compliance. Furthermore, Bio-Path recently discontinued Phase 1 trials for BP1002 due to patient enrollment challenges.
In addition to these developments, Bio-Path is planning to reveal data from a solid tumor study early next year. The company is also enthusiastic about entering the obesity and metabolic disease space with BP1001-A, according to CEO Peter Nielsen. These are the latest developments in the company's operations.
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