Can Fite Biopharma Ltd (ADR) (NYSE: CANF) is having an incredibly strong morning in the market this morning after announcing that it has received approval for a key Phase III trial. This of course led to excitement among investors, causing a frenzy and pushing the stock upward. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (11:00), CANF is trading at $1.95 per share after a gain of $0.13 per share or 7.14% thus far today.
CANF Receives Approval For Key Phase III Clinical Trial
As mentioned above, Can Fite Biopharma is having an incredibly strong day in the market today after announcing that the Barzilai Medical Center’s Institutional Review Board has approved the Phase III ACRobat trial protocol. As a result, patient enrollment will begin soon in Ashkelon, Israel. In a statement, Dr. Pnina Fishman, CEO at CANF, had the following to offer…
“Piclidenson has demonstrated its safety profile in over 1,000 patients and prior clinical data show its potential to be as effective, or more effective, than MTX in treating rheumatoid arthritis. Our ACRobat trial is powered to demonstrate Piclidenoson’s potential as a first line therapy and superior alternative to MTX, which unfortunately can have several side effects for patients who need a long-term treatment solution.”
Stop wasting your time! Find winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CANF. In particular, we’ll be following the Phase II trial surrounding Picilidenson and are excited for the results. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Want The News Faster?
Check out the CNA Finance News Desk to get the scoop before we have the time to write the full story!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!