CARDIFF, UK - Biodexa Pharmaceuticals (NASDAQ:BDRX), a biopharmaceutical company, has reported promising early trial results for its drug MTX110, aimed at treating two aggressive brain cancers, Diffuse Midline Glioma (DMG) in children and Recurrent Glioblastoma (rGBM) in adults.
The company's early trials have shown MTX110's potential in extending survival rates beyond those observed in prior studies. DMG and GBM are both known for their high mortality rates and currently have limited treatment options, making this development particularly significant.
MTX110 utilizes a water-soluble form of the chemotherapy agent panobinostat, delivered directly to the brain tumor via Convection Enhanced Delivery (CED) technology. This approach aims to concentrate the drug within the tumor while reducing systemic exposure, potentially lessening side effects.
The proof-of-concept phase 1 clinical trial at the University of California San Francisco for patients with DMG showed a median overall survival of 26 months, surpassing the historical rate of 10 months. Another phase 1 trial at Columbia University Irving Medical Center yielded a median overall survival of 16 months for newly diagnosed DMG patients, an improvement from the historical 10 months.
For rGBM, the ongoing MAGIC-G1 phase 1 trial at Duke Cancer Institute and Baptist MD Anderson Cancer Center has completed recruitment for cohort A, with some patients showing extended survival times. The expected topline results for progression-free survival from this cohort are anticipated in Q2 of 2024.
The findings from Biodexa's studies will be presented at the 21st International Symposium on Pediatric Neuro-Oncology, scheduled for June 28 - July 2, 2024. Depending on the outcomes, the company may advance MTX110 to a phase 2 study for further development.
Biodexa remains optimistic about the potential of MTX110 to offer extended life and improved quality of life for patients facing these deadly cancers. This news is based on a press release statement from Biodexa Pharmaceuticals.
InvestingPro Insights
As Biodexa Pharmaceuticals (NASDAQ:BDRX) garners attention with its promising drug trials for aggressive brain cancers, investors are closely monitoring the company's financial health and stock performance. With a market capitalization of just $2.25 million, BDRX is a small-cap biopharmaceutical player that has experienced significant market volatility. The company's stock has faced a steep decline, with a one-year price total return of -97.84%, reflecting investor concerns and the inherent risks of drug development.
Recent data highlights that Biodexa is quickly burning through cash, which is a critical issue for a company that is not yet profitable. The gross profit margin stands at a concerning -835.54% for the last twelve months as of Q2 2023, indicating financial strain. Additionally, the significant negative return on assets of -92.53% suggests that the company is struggling to generate profit from its assets.
While Biodexa's developments in the medical field are promising, these financial metrics underscore the challenges ahead. For investors considering BDRX, it's worth noting that the company holds more cash than debt on its balance sheet, which is a positive sign in terms of financial stability. However, with analysts anticipating a sales decline in the current year and no profitability expected, it's clear that the road to financial recovery may be long.
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