Faron Pharmaceuticals Limited (AIM:FARN, OTC:FPHAF) continued to rally on Wednesday on the back of a promising update on its wholly owned precision immunotherapy asset bexmarilimab.
In an open-label clinical trial, the company reported that a leukaemia patient with partial responses as communicated on October 31, achieved complete remission, with incomplete blood cell count recovery after four treatment cycles.
In Wednesday's statement, Dr Marie-Louise Fjällskog, Faron’s chief medical officer, said: “We continue to be encouraged by the promising early data observed in this tria l… These observations support the potential for synergy of bexmarilimab in combination with standard of care.”
On Thursday, Faron shares jumped 17% to 378p, garnering a market valuation of £227mln.