Avacta Group PLC's share price has jumped 10% following positive updates on its cancer drug trial.
The life sciences company successfully completed the sixth stage of its phase I clinical trial for AVA6000, aimed at treating various advanced forms of the disease.
The study showed that the drug is safe and significantly reduced the size of a tumour in a patient with soft tissue sarcoma.
The company plans to move on to the final stage of this phase I evaluation, aiming to start a phase II assessment in 2024.
AVA6000 is designed to target only cancer cells, reducing harmful side effects usually seen with similar chemotherapy drugs.
The company expects to release detailed data from this latest study by the end of 2023.
At 9.03 am, the shares were changing hands for 116.98p, up 10.97p.