Biotech drug developer Can-Fite BioPharma Ltd. (TASE:CFBI)) reported progress today in a Phase I/II clinical trial of its CF102 drug.
The company is studying CF102 as a treatment for liver disease, such as liver cancer and hepatitis C.
The company said that it has completed patient recruitment for the next stage of its Phase I/II trial. It also received authorization from the ethics committee which reviewed preliminary results of the second stage, and recommended continuing the third phase of the study , with patients receiving a higher dosage of the drug. After this stage, results will be checked to see which dosage is most effective and safe for patients.
Can-Fite said that the potential market for the drug can reach billions of dollars. Sales of the only drug for liver cancer are currently $850 million, and are expected to reach $1 billion in 2010.
Can-Fite CEO Pnina Fishman said that the advantage of CF102 comes from the fact that it has a high safety profile, so that it can be used specifically against cancer cells without damaging healthy functions in the body.
Can-Fite shares rose 8.37% today. The share price is up 21.6% so far this year.
Published by Globes [online], Israel business news - www.globes-online.com - on March 31, 2010
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