Company Update (NYSEMKT:ATNM): Actinium Pharmaceuticals Inc Issues Letter to Shareholders Outlining Measures to Move Iomab-B and Actimab-A Into Advanced Development
Actinium Pharmaceuticals Inc (NYSEMKT:ATNM), a biopharmaceutical company developing innovative targeted payload immunotherapeutics for the treatment of advanced cancers, announced today that it has it has issued a letter to shareholders providing an update on the progress it has made to advance its two drug candidates, Iomab-B and Actimab-A, towards commercialization. With a substantially stronger balance sheet following financing activity that yielded cash in excess of $25 million at June 30, 2015, the Company is well positioned to propel forward its research activities and transition its key programs with Iomab-B and Actimab-A through value creating milestones.
Highlights of the letter include:
- Successfully completed the third cohort of AML (Acute Myeloid Leukemia) patients in Phase 1/2 trial for Actimab-A, in which patients received two doses of Actimab-A at 1.5 μCi/kg per dose compared to a lower dose of 1.0 μCi/kg that patients received in Cohort 2. Two out of three Actimab-A treated patients achieved complete remission in Cohort 3, with different degrees of hematological recovery (CRi). By comparison, one patient achieved Cri in Cohort 2.
- Launched the enrollment process for Cohort 4 for Actimab-A and activated more medical centers to facilitate patient enrollment. With encouraging results observed as Phase 1 progressed, the Company anticipates strong support from this network as it enrolls patients for Phase 2.
- Resolved an unexpected manufacturing problem through increased oversight of the production process. This has also generated valuable intellectual property, know-how and trade secrets that will further protect the Iomab-B process.
- Submitted a request to the FDA (Food and Drug Administration) for a pre-IND meeting for Iomab-B. The FDA typically responds within 60 days of receiving an application. Ramped up business development efforts to find suitable partners for both products to support their development and future commercial launch. (Original Source)
Shares of Actinium Pharmaceuticals opened today at $1.73 and are currently trading up at $1.9177. ATNM has a 1-year high of $8.12 and a 1-year low of $1.52. The stock’s 50-day moving average is $2.46 and its 200-day moving average is $3.05.
Actinium Pharmaceuticals, Inc. is a New York, NY based biopharmaceutical company that develops innovative alpha particle immunotherapeutics based on its proprietary platform for the therapeutic utilization of alpha particle emitting actinium-225 and bismuth-213 radiopharmaceuticals in association with monoclonal antibodies.