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Can-Fite (CANF) to Explore RA Drug for Coronavirus Treatment
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Can-Fite BioPharma Ltd. (CANF - Free Report) announced that data from the interim analysis of the phase III study on lead candidate, piclidenoson, will be released during the fourth quarter of 2020.
Piclidenoson, a novel, first-in-class, A3 adenosine receptor agonist (A3AR), is currently in phase III studies for rheumatoid arthritis (RA) and psoriasis.
The company is now exploring a collaboration to look at the effect of piclidenoson against coronavirus.
This move is driven by reports of RA drugs being introduced for the treatment of the coronavirus. Gilead Sciences, Inc. (GILD - Free Report) is conducting a clinical study in China, which combines its anti-viral drug candidate, remdisivir, with the old RA drug, chloroquine. In addition, Roche (RHHBY - Free Report) has donated its Actemra anti-RA drug for the treatment of patients in China.
Can-Fite’s drug candidates possess anti-viral effect protected by a U.S. patent, US7589075.
Shares of the company rallied 26.9% on this news. A positive outcome will be a significant boost for the company.
However, shares have lost 40% in the year so far compared with the industry’s decline of 2.7%.
Can-Fite has completed the enrollment of 50% of the 525 patients planned for its phase III ACRobat study to evaluate its drug candidate, piclidenoson, as a first-line treatment for RA. An independent data monitoring committee (IDMC) will manage and monitor interim analysis of the data, which are expected in third-quarter 2020.
Meanwhile, Can-Fite's liver cancer candidate, namodenoson, recently completed a mid-stage study for hepatocellular carcinoma (HCC) and is in a phase II study for the treatment of non-alcoholic steatohepatitis (NASH).
We note that quite a few companies are working on drugs and vaccines for the treatment coronavirus, as more and more cases are being reported every day. AbbVie’s (ABBV - Free Report) Kaletra is also being evaluated as a treatment option.
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
Image: Bigstock
Can-Fite (CANF) to Explore RA Drug for Coronavirus Treatment
Can-Fite BioPharma Ltd. (CANF - Free Report) announced that data from the interim analysis of the phase III study on lead candidate, piclidenoson, will be released during the fourth quarter of 2020.
Piclidenoson, a novel, first-in-class, A3 adenosine receptor agonist (A3AR), is currently in phase III studies for rheumatoid arthritis (RA) and psoriasis.
The company is now exploring a collaboration to look at the effect of piclidenoson against coronavirus.
This move is driven by reports of RA drugs being introduced for the treatment of the coronavirus. Gilead Sciences, Inc. (GILD - Free Report) is conducting a clinical study in China, which combines its anti-viral drug candidate, remdisivir, with the old RA drug, chloroquine. In addition, Roche (RHHBY - Free Report) has donated its Actemra anti-RA drug for the treatment of patients in China.
Can-Fite’s drug candidates possess anti-viral effect protected by a U.S. patent, US7589075.
Shares of the company rallied 26.9% on this news. A positive outcome will be a significant boost for the company.
However, shares have lost 40% in the year so far compared with the industry’s decline of 2.7%.
Can-Fite has completed the enrollment of 50% of the 525 patients planned for its phase III ACRobat study to evaluate its drug candidate, piclidenoson, as a first-line treatment for RA. An independent data monitoring committee (IDMC) will manage and monitor interim analysis of the data, which are expected in third-quarter 2020.
Meanwhile, Can-Fite's liver cancer candidate, namodenoson, recently completed a mid-stage study for hepatocellular carcinoma (HCC) and is in a phase II study for the treatment of non-alcoholic steatohepatitis (NASH).
We note that quite a few companies are working on drugs and vaccines for the treatment coronavirus, as more and more cases are being reported every day. AbbVie’s (ABBV - Free Report) Kaletra is also being evaluated as a treatment option.
Can-Fite currently carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>