Biodexa Pharmaceuticals (NASDAQ: BDRX) stock plummeted over 15% in the early trading hours Monday. The company recently released encouraging results for its brain cancer drug, MTX110.
Biodexa (BDRX) has released encouraging early trial findings for its drug MTX110, aimed at treating two aggressive forms of brain cancer: Diffuse Midline Glioma (DMG) in children and Recurrent Glioblastoma (rGBM) in adults.
The preliminary results from trials of MTX110 in both cancers have shown promise in extending survival rates beyond those reported in previously published studies. DMG and GBM are known for their high mortality rates and limited treatment options, making these findings particularly noteworthy.
MTX110 Trial Results
Biodexa Pharmaceuticals conducted phase 1 clinical trials for MTX110 at the University of California, San Francisco, and Columbia University Irving Medical Center, focusing on patients battling DMG. These trials yielded promising outcomes. At the UCSF trial, the median overall survival reached 26 months, a stark improvement from the historical rate of 10 months. Similarly, the trial at Columbia University showed encouraging results, with MTX110 treatment extending median overall survival to 16 months from the previous 10-month benchmark for newly diagnosed DMG patients.
The company plans to present the findings from this study at the 21st International Symposium on Pediatric Neuro-Oncology, scheduled from June 28 to July 2, 2024. Biodexa foresees potential advancement to phase 2 studies based on the promising results from the phase 1 trials.
Meanwhile, the ongoing MAGIC-G1 phase 1 trial targeting recurrent GBM patients (rGBM) at Duke Cancer Institute and Baptist MD Anderson Cancer Center has shown significant progress. The company has completed recruitment for cohort A of the study, and the initial patient has survived for 12 months. Notably, three patients remained enrolled in the study, with topline results for progression-free survival from cohort A expected to be available in Q2 of 2024.
The retrospective analysis of 299 patients with similar recurrent GBM disease revealed a median overall survival of only 6.5 months post-recurrence of GBM cancer.
Biodexa (NASDAQ: BDRX) Stock Price Action
BDRX stock surged 88.59% to close at $1.62 on Thursday. The traders had exchanged hands with 88,371,640 (88.37 million) shares compared to the average daily trading volume of 2.04 million.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
