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Bio-Path extends rally after reporting clinical improvement in Phase 2 leukemia trial

Last updated: 09:05 07 Mar 2019 EST, First published: 08:57 07 Mar 2019 EST

An illustration for a clinical trial
CEO Peter Nielsen says he is pleased with the leukemia trial’s findings

Bio-Path Holdings Inc (NASDAQ:BPTH) extended its rally Thursday after reporting in an update that its Phase 2 study of its treatment of a form of leukemia is demonstrating meaningful clinical improvement.

The biotech said Wednesday that the open-label Phase 2 study evaluated the effectiveness and safety of prexigebersen in conjunction with low-dose cytarabine, a therapeutic regimen established in the treatment of some patients with acute myeloid leukemia.

Shares of Houston-based Bio-Path climbed 34% to $16.05 in Thursday’s premarket trading after more than doubling Wednesday.

READ: Bio-Path surges as company cites clinical improvement in Phase 2 leukemia trial

In April 2018, according to the company, it completed an initial interim analysis of 17 evaluable patients from Stage 1 of the Phase 2 study. The results showed promising safety and effectiveness, with 47% of patients having a response with four showing a complete response, according to Bio-Path.  

Recently, the data from the 17 evaluable patients were updated, Bio-Patch said. After a meeting with the principal investigators, the results now show that 11 patients had a response, including five who achieved a complete response, according to the company.

“We were particularly pleased with these results, especially when you consider that the large percentage of these patients are secondary AML patients,” CEO Peter Nielsen said in a statement.

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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