The Phase IIb trial for CF101 for the treatment of rheumatoid arthritis failed to achieve the test targets.
Can-Fite BioPharma Ltd. (TASE:CFBI) today notified the Tel Aviv Stock Exchange (TASE) that the Phase IIb clinical trial for CF101 for the treatment of rheumatoid arthritis failed to achieve the test targets.
The trial included 230 patients at medical centers in Europe and Israel who took CF101 orally twice a day for twelve weeks. Preliminary results found no statistically significant difference compared with the control group who received a placebo. This result constitutes a failure.
Can-Fite CEO Prof. Pnina Fishman said, "Despite the disappointing trial results, they are important for further development of the drug."
Can-Fite's share fell 35% to NIS 0.88 in early trading on the TASE.
Published by Globes [online], Israel business news - www.globes-online.com - on April 30, 2009
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