Sophiris Bio Inc (NASDAQ:SPHS) provided an update on clinical trial enrollment of its Phase 2b study of topsalysin as a treatment for men with clinically significant localized prostate cancer. Patient enrollment is near completion, and the remaining patients are being scheduled to receive treatment within the next few weeks. Sophiris expects the study will be fully enrolled by the end of October. The Company expects biopsy data from all patients dosed with the first administration of topsalysin to be available late in the first quarter of 2018.
“Interest in this study has been strong, and the remaining patients are being scheduled for treatment in the next few weeks,” said Randall E. Woods, president and CEO of Sophiris. “We look forward to completing enrollment, and, assuming enrollment is completed as expected, initial biopsy results will be available toward the end of the first quarter of 2018.”
Shares of Sophiris closed on Friday at $2.146, up $0.02 or 0.75%. SPHS has a 1-year high of $3.30 and a 1-year low of $1.80. The stock’s 50-day moving average is $2.10 and its 200-day moving average is $2.30.
On the ratings front, SPHS stock has been the subject of a number of recent research reports. In a report issued on September 15, H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on SPHS, with a price target of $6.00, which represents a potential upside of 180% from where the stock is currently trading. Similarly, on August 14, Maxim’s Jason Kolbert reiterated a Buy rating on the stock and has a price target of $6.00 as well.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joseph Pantginis and Jason Kolbert have a yearly average loss of -16.6% and -9.3% respectively. Pantginis has a success rate of 32% and is ranked #4639 out of 4676 analysts, while Kolbert has a success rate of 35% and is ranked #4628.
Sophiris Bio, Inc. is a clinical-stage biopharmaceutical company, which develops products for the treatment of urological diseases. It is currently developing PRX302 as a treatment for the symptoms of benign prostatic hyperplasia which is a non cancerous enlargement of the prostate gland that causes a restriction in urine flow from the urethra resulting in lower urinary tract symptoms.