Can-Fite BioPharma Ltd. (TASE:CFBI) today announced that it has begun preparations for the Phase III clinical trial of its flagship drug, CF101, for the treatment of psoriasis. Three weeks ago, the company announced that the Phase II trial of CF101 for this treatment was a success. If the Phase III trial is successful, the company can apply for marketing approval of the drug for this treatment.
In the Phase II trial, CF101 in 2 mg dosages was found effective in treating psoriasis. This dosage was found to be statistically significant most effective of the three dosages administered during the study.
Can-Fite will have to obtain approval of the US Food and Drug Administration (FDA) and other regulatory agencies to begin the Phase III trial. The company believes that these procedures will take several months, after which it will begin recruiting patients for the trial.
Can-Fite CEO Pnina Fishman said, "CF101 is unique for treating psoriasis, because it is given orally, and its safety and effectiveness profile are impressive."
Can-Fite's share rose 2.2% in morning trading to NIS 0.80, giving a market cap of NIS 167 million.
Published by Globes [online], Israel business news - www.globes-online.com - on September 29, 2009
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