BiVictriX Therapeutics PLC (AIM:BVX, OTC:BVTXF) shares spiked 7% on Tuesday following the selection of a drug candidate from its BVX001 programme for clinical trials.
This move comes after promising preclinical data revealed the drug triggered a significant tumour regression of up to 93% in an acute myeloid leukaemia (AML) mouse model, sans side effects.
Comparisons were made with an untreated group and a high Cytarabine dose, an AML chemotherapy. All BVX001 dosage schedules manifested a notable tumour growth reduction. Notably, a 10mg/kg dosage twice a week exhibited a tumour regression rate of 93% and 89% respectively for two BVX001 variations.
CEO Tiffany Thorn has confirmed the company's pursuit of further preclinical studies and regulatory approval for human trials. BiVictriX, which aims to create targeted cancer drugs with less toxicity using its Bi-Cygni technology, also plans to seek partnerships for manufacturing, clinical development, and commercialisation.
The stock closed the session at 13.95p, up 0.95p.