Race Oncology, Analytica shares rise after results; Race up 3,500pc in 16 months
Health & Biotech
Health & Biotech
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Race shares rose by 17 per cent to $1.88 – representing a rise of over 3,500 per cent since July 2019.
Analytica shares went on a run too, by 50 per cent.
Race has an anti-cancer drug known as Bisantrene. The drug previously passed clinical trials back in the 1980s, but the specific cancers it targeted weren’t a large enough market to stop it being let go amidst big pharmaceutical mergers.
Race’s biggest news this year was in June when it recorded solid results from a Phase II clinical trial against acute myeloid leukemia (AML).
The company has also been targeting other cancers and today it informed shareholders of preclinical results against breast cancer.
It collaborated with the University of Newcastle to see if existing breast cancer drugs could work just as well with Bisantrene but with reduced side effects. The research found that Bisantrene was effective against some cancer subtypes.
It could kill a wide range of different breast cancer cell subtypes, including some resistant to other drugs.
“The findings are very encouraging. Our data provides the necessary preclinical evidence to test this combination in clinical trials,” said cancer researcher Nikki Verills, who led the project.
Race’s chief scientific officer Daniel Tillett and CEO Phillip Lynch confirmed this is just what would happen.
Lynch noted breast cancer affects 2.1 million women annually and the drug market was valued at US$20 billion globally.
“This new research not only underscores our confidence in moving Bisantrene into a Phase II breast cancer trial but continues to build on the body of evidence we have supporting Bisantrene’s potential for broader use and then commercial opportunity,” he said.
Analytica meanwhile also rose after positive data for its flagship company asset.
This company’s device, PeriCoach, is a “smartphone pelvic floor muscle rehabilitation system”. It assists in the treatment of conditions such as organ prolapse and Stress Urinary Incontinence (SUI).
PeriCoach aims to help women suffering from these conditions but are too remote or time poor to consult in person.
Last week, Analytica told shareholders that PeriCoach had held up in a clinical trial – it found non-inferiority for treating SUI.
But it took until today for shares to rise. The catalyst was a Health Economics white paper which showed it was more cost effective than traditional physical therapies.
“Use of the PeriCoach system significantly improves the quality of life with women with SUI and Mixed Urinary Incontinence (MUI) and is non-inferior to the current standard of care,” said Dr Lauren Winter who was the lead investigator.
“The system costs significantly less to both patients and payers for similar treatment success and may prevent or delay women from needing expensive surgical treatments.”