Can Fite Biopharma Ltd (ADR) (NYSEMKT:CANF) announced the peer reviewed scientific journal Molecular Medicine Report has published an article titled, “A3 adenosine receptor agonist, CF102, protects against hepatic ischemia/reperfusion injury following partial hepatectomy.” The article reports the results of preclinical studies conducted by Can-Fite, showing the Company’s liver cancer drug candidate CF102 protects the liver from ischemia/reperfusion injury and regenerates liver cells following partial hepatectomy.
Liver surgery, liver transplantation, and toxic liver conditions such as non-alcoholic steatohepatitis (NASH) can lead to injury of the liver characterized by inflammatory conditions and liver cell death. The studies showed that CF102 protected the liver against ischemic reperfusion manifested by a statistically significant (p<0.05) reduction in key liver enzymes, SGOT and SGPT. In addition, in studies where partial liver hepatectomy was conducted, a 45% increase in the regeneration rate of the remaining liver was observed after CF102 treatment, compared to placebo which regenerated only by 24%.
“We have a growing body of data pointing to the powerful liver protective properties of CF102. This supports our ongoing Phase II trial of CF102 as a second line treatment for hepatocellular carcinoma. These preclinical data are also valuable in showing CF102 holds promise in the treatment of NASH and other liver diseases and injuries,” stated Can-Fite CEO Dr. Pnina Fishman. (Original Source)
Shares of Can-Fite BioPharma are currently trading at $2.63, up $0.25 or +10.40%. CANF has a 1-year high of $5.78 and a 1-year low of $1.85. The stock’s 50-day moving average is $2.31 and its 200-day moving average is $2.56.
On the ratings front, H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on CANF, with a price target of $6.00, in a report issued on August 29. The current price target implies an upside of 132% from current levels. According to TipRanks.com, Selvaraju has a yearly average return of 2.3%, a 47% success rate, and is ranked #961 out of 4166 analysts.
Can-Fite BioPharma Ltd. operates as a clinical-stage biopharmaceutical company, which focuses on developing orally bioavailable small molecule therapeutic products for the treatment of autoimmune-inflammatory, oncological and ophthalmic diseases. It products include pipeline drugs such as CF101, CF102 and CF602. It offers drugs for the treatment of Psoriasis, Rheumatic Arthritis, Glaucoma, Uveitis, Crohn’s disease, Osteoathritis, Hepatitis C, and Liver Cancer.