Bio-Path says progress in Phase 2 leukemia trial among milestones

Bio-Path Holdings Inc (NASDAQ:BPTH) said Thursday that progress in a Phase 2 trial for a treatment of a type of leukemia was a key milestone.

The recent updated interim analysis of the trial for prexigebersen in acute myeloid leukemia (AML) showed that of 17 evaluable patients, 65% had a response, including 29% who achieved a complete response. One of the patients achieved a leukemia-free state in terms of structure.

The company said it’s on track toward submitting its investigational new drug (IND) application to begin a Phase 1 study of BP1002, which targets the Bcl-2 protein. This trial will seek to treat some non-Hodgkin’s lymphoma and chronic lymphocytic leukemia patients.

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

“We entered 2019 on strong footing and expect to build on that momentum throughout the balance of the year as we continue to advance these important programs,” CEO Peter Nielsen said in a statement.

Earlier this month, the Houston company issued 712,910 shares at $25.95 per share for gross proceeds of $18.5 million.

Shares of Bio-Path were down US$2.20 to US$19.30 in Thursday’s Nasdaq trading.

The clinically focused company reported a net loss attributable to common stockholders of $8.6 million, or $14.38 per share, in 2018, compared with a net loss of $8.1 million, or $15.99 per share, a year earlier.

Contact Dennis Fitzgerald at [email protected]

Story by ProactiveInvestors