Purple Biotech Reports Positive Final Data From Phase 2 Study Of CM24 In Pancreatic Cancer; Stock Up

(RTTNews) - Purple Biotech Ltd. (PPBT), a clinical-stage biotechnology company, Monday announced positive final data from the Phase 2 study of its lead drug CM24 in pancreatic cancer. The company's shares were trading more than 50 percent in pre-market.

The Phase 2 study evaluated CM24 in combination with Bristol Myers Squibb's nivolumab plus stand-of-care (SoC) chemotherapy in patients with second-line pancreatic cancer. Final data from the study showed that patients treated with CM24 in combination with nivolumab and chemotherapy reduced the risk of death by 79 percent with median overall survival (OS) improvement of 5.1 months and over 90 percent reduction in risk of progression or death.

The company plans to conduct a Phase 2b study of CM24 in multiple tumor types.

Purple Biotech had closed at $3.355, up 3.23 percent on Friday. It has traded in the range of $2.00 - 23.20 in the last 1 year.