Can-Fite BioPharma Ltd. (TASE:CFBI; Bulletin Board: CANFY) reported this morning that the Phase III trial carried out by its subsidiary OphthaliX Inc. (Bulletin Board: OPLI) of its drug CF101 on patients with moderate-to-severe Dry Eye Syndrome was unsuccessful. The trial did not meet the primary efficacy endpoint of complete clearing of corneal staining, nor the secondary efficacy endpoints. CF101 was found to be well tolerated.
"We are disappointed from the fact that the phase 3 clinical trial for the treatment of Dry Eye Syndrome did not meet the endpoints. We intend to learn the trial results and extract from the clinical data received the lessons required for the successful advancement of Can-Fite's compounds in various indications," said Can-Fite CEO Pnina Fishman.
Fishman added however, "The fact that the safety profile of CF101 remains high and is consistent is very encouraging and emphasizes an important advantage of CF101 compared to other drugs on the market. We believe in the platform technology and will continue to develop it for the appropriate indications."
Last week, the company reported success in a Phase 2b trial of CF101 as a treatment for rheumatoid arthritis.
Yesterday, Can-Fite's share price plummeted 16.3%, on a high volume of trading, without any announcement.
Published by Globes [online], Israel business news - www.globes-online.com - on December 30, 2013
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