OXiGENE Inc (NASDAQ:OXGN), a biopharmaceutical company developing novel cancer therapeutics, today announced the presentation of interim phase 2 data for the company’s lead investigational drug, CA4P (also known as fosbretabulin). The data were presented in a poster session on October 16 at the North American Neuroendocrine Tumor Society (NANETS) Annual Symposium in Austin, Texas.
Interim data from the first nine subjects in the study suggested that CA4P monotherapy may improve biomarkers and quality of life (QOL) measures. Additionally, CA4P appears to be relatively well tolerated by subjects. The poster also notes that results are preliminary, due to the small number of subjects analyzed at this point.
“The encouraging interim results seen in this Phase 2 study add to the body of evidence showing that CA4P has a positive effect in the treatment of solid tumors,” said William D. Schwieterman, MD,OXiGENE’s President and CEO. “We look forward to full results from this trial anticipated in the second half of 2016, as we simultaneously move to advance CA4P in later-stage trials in our core programs for ovarian cancer and glioblastoma multiforme, which will evaluate CA4P in combination with complementary, approved anti-angiogenic agents.”
The poster presentation, entitled “Phase 2 study (OX4218s) of fosbretabulin tromethamine (CA4P) for the treatment of well-differentiated, low-to-intermediate-grade unresectable, recurrent or metastatic pancreatic or gastrointestinal neuroendocrine tumors/carcinoid (PNETs or GI-NETs) with elevated biomarkers,” was authored by Steven K. Libutti, MD1, Lowell Anthony, MD2, Julie Ann Sosa, MD3, Pamela Kunz, MD4, James Thomas, MD, PhD5, Susan A. Cruikshank6, Alice Varga6, David J. Chaplin, PhD6, James Burke, MD6, and Edward M. Wolin, MD2. A copy has been posted to the company’s website under “Presentations.” (Original Source)
Shares of Oxigene closed last Friday at $1.03. OXGN has a 1-year high of $2.53 and a 1-year low of $0.82. The stock’s 50-day moving average is $1.13 and its 200-day moving average is $1.34.
On the ratings front, FBR analyst Thomas Yip maintained a Buy rating on OXGN, with a price target of $6.50, in a report issued on August 4. The current price target implies an upside of 531.1% from current levels. According to TipRanks.com, Yip has a total average return of -10.0%, a 25.9% success rate, and is ranked #3541 out of 3788 analysts.
OxiGene Inc is a biopharmaceutical company. The Company is engaged in development of vascular disrupting agents (VDAs) for the treatment of cancer. It has two clinical stage product candidates that are developed in three potential oncology indications.
