Can-Fite Biopharma (NYSEAMERICAN: CANF) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced that its data has been selected for a coming presentation, exciting investors and sending the stock on a run for the top. Today, we’ll talk about:
- The coming presentation;
- what we’re seeing from CANF stock as a result; and
- what we’ll be watching for ahead
CANF Announces Coming Presentation
As mentioned above, Can-Fite BioPharma is having a great day in the market today after the company announced a coming presentation. The announcement was made via press release early this morning.
In the release, CANF said that the International Liver Cancer Association has accepted its abstract describing the latest data from its Phase II Liver Cancer study. In the stuy, the company is assessing Namodenoson as a potential treatment option.
As a result of the acceptance, the company will be providing an oral presentation surrounding the data at the ILCA annual conference. The presentation will be titled “The Safety and Efficacy of Namodenoson in the Second Line Treatment of Advanced Hepatocellular Carcinoma (HCC) Patients with Underlying Child-Pugh B (CPB) Liver Cirrhosis: A Phase 3, Randomized, Double-Blined, Placebo-Controlled.”
The presentation will be provided on September 22, 2019 during the Novel Targets and Prognostic Markers Session from 11:00 am to 12:30 pm.
In a statement, Pnina Fishman, CEO at CANF, had the following to offer:
This is a very prestigious conference that brings together the leading thought leaders, researchers, and physicians in the treatment of liver cancer. Governing members of the ILCA thoroughly research each abstract submission and select those that are most relevant to the advancement of treating liver cancer. We are pleased that the selection committee sees the potential of Namodenoson as a treatment for advanced liver cancer patients with severe liver dysfunction. Based on both safety and efficacy in this Phase II study, Can-Fite is preparing a Phase III trial.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. When it comes to Can-Fite Biopharma, the news proved to be overwhelmingly positive.
After all, with the data being selected for presentation, there’s another point of validation for the company’s work. Moreover, the presentation may serve as a catalyst that investors seem to want to get in on early.
So, it comes as no surprise to see that excited investors are pushing the stock for the top. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:19), CANF is trading at $7.31 per share after a gain of $2.16 per share or 41.94% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on CANF. In particular, we’re interested in following the story surrounding the company’s continued work to bring Namodenoson to market. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!
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