Less than a month after reporting the failure of a trial of a drug for treatment of psoriasis, a report that caused a nosedive in its share, Can-Fite BioPharma Ltd. (TASE:CFBI; NYSE MKT: CANF) today announced that further analysis of the Phase II/III research data yielded positive data supporting continued development of the drug. The company's share rose 26.3% on the Tel Aviv Stock Exchange today.
The study included 326 patients treated for 32 weeks at 17 medical centers in the US, Europe, and Israel. The initial goal was to demonstrate significant statistical improvement in comparison with a placebo after 12 weeks of treatment.
The company plans to continue development of its CF101 drug for treatment of psoriasis, and is preparing a protocol for the study's next trial.
"The cumulative and linear improvement in the effectiveness of the CF101 drug for treatment of medium-to-severe psoriasis is important for patients not previously treated with other systemic drugs, and we will continue the developing program in this important direction," said Can-Fite CEO Dr. Pnina Fishman.
Published by Globes [online], Israel business news - www.globes-online.com - on April 27, 2015
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