Shares of Oncotelic Therapeutics (OTCMKTS:OTLC) closed sharply higher in the previous trading session.
On Tuesday, OTLC stock surged 10.40% to $0.1270 with more than 312k shares, compared to its average volume of 167K shares. The stock has moved within a range of $0.1175 – 0.1300 after opening trade at $0.12.
Successful Completion of the Safety Evaluation of a TGF-β Inhibitor (OT-101) and IL-2 (Aldesleukin) in Phase 1 Combination Trial in Solid Tumor Cancers
Leading developer of TGF-β therapeutics for oncology and virology, Oncotelic Therapeutics (OTCMKTS:OTLC) on November 16, 2021 provided update on ongoing OT-101/IL-2 combination trial, having finished safety evaluation of the safety cohort, enabling further expansion of the clinical program into phase 2 clinical trials as well as higher doses.
The study was done to assess tolerance, safety as well as effectiveness of TASO-001, a TGF-β targeting anti-sense oligonucleotide, combining with recombinant nterleukin-2 in patients having metastatic solid tumor cancer.
A first-in-class anti-TGF-β ribonucleic acid therapeutic, OT-101 has shown single agent activity in relapsed/refractory cancer patients in a number of trials. It has also shown activity against SARS-CoV-2 virus and is being assessed in its C001 clinical trial against hospitalized severe COVID-19. The standard dosage of 140mg/m2 of OT-101was well tolerated in combination with IL-2 during the trial.
Dr.Vuong Trieu, CEO of Oncotelic said that the company is excited to see safety for OT-101/IL-2 combination it has potential to bring long-lasting responses and alsocures in one in ten patients suffering from metastatic melanoma and metastatic kidney cancer.
Trieu added that the analysis shows that OT-101/IL-2 combination can improve cure rate of these cancers and the company is keen on updating shareholders after getting more insights on the data.
“We are excited to see this clear demonstration of safety for the OT-101/IL-2 combination,” noted Dr. Vuong Trieu, CEO of Oncotelic. “Unlike other common treatments, such as chemotherapy, IL-2 has the potential to bring about long-lasting responses and even cures in about one in 10 patients with metastatic kidney cancer and metastatic melanoma. Our analysis to date suggests that the OT-101/IL-2 combination could further improve the cure rate of these cancers. We look forward to updating shareholders as we gain further insights with additional data.”
OTLC stock is trading above the 20-Day and 50-Day Moving averages of $0.12 and $0.13 respectively. However, the stock is trading below the 200-Day moving average of $0.21. The stock is up 8% over the past month.