Check-Cap Ltd. (Nasdaq: CHEK) (NASDAQ: CHEKW), (NASDAQ: CHEKZ) has announced that Mayo Clinic is the second trial site participating in the company's ongoing pilot study of its C-Scan system in the US. C-Scan is a preparation-free ingestible capsule for the prevention of colorectal cancer through the detection of precancerous polyps
Check Cap CEO Alex Ovadia said, "We are thrilled to collaborate with Mayo Clinic as a part of our US pilot study of the C-Scan system. Together with the continued progress being made at our first trial site, the New York University School of Medicine, we are advancing this study, and look forward to final results later this year as we prepare for a US pivotal study."
The single-arm pilot study will enroll up to 45 subjects considered to be of average risk for polyps and colon cancer. The study is evaluating the safety, usability and subject compliance of the C-Scan system. The study at Mayo Clinic is being led by Elizabeth Rajan, M.D.
Meanwhile, Check Cap has released its first quarter financials. The company made a net loss of $3.2 million in the quarter, which compares with a net loss of $2.1 million for the same period in 2018. Research and development expenses net were $2.3 million in the first quarter of 2019, compared with $1.6 million for the same period in 2018. The company said that the increase was primarily due to its ongoing post-CE Mark clinical study and expanded preparations for the US pilot study. This increase was partially offset by a $58,000 grant received from the Israel Innovation Authority.
Published by Globes, Israel business news - en.globes.co.il - on May 13, 2019
© Copyright of Globes Publisher Itonut (1983) Ltd. 2019