TransCode Therapeutics (NASDAQ:RNAZ) shares took off after it announced positive results from a study of its lead drug candidate TTX-MC138 in mice models bearing human glioblastoma multiforme (GBM) tumors.
Shares of the Boston-based RNA oncology company added 357.8% to US$3.04 in early trade on Monday.
The company reported that during the study, mice implanted with tumors derived from human GMB patients were treated via intravenous injection with TTX-MC138 which showed lasting activity and significantly inhibited miRNA-10b, known to be a driver of tumor progression in glioblastoma (an aggressive brain tumor) and other advanced solid tumors.
TransCode believes TTX-MC138 could be used to treat many cancers, and its first in-human trial of the drug candidate is open for enrolment and has dosed its first patient.
“We believe that the latest data obtained in GBM further support the application of TTX-MC138 for the treatment of cancer,” TransCode chief technology officer Zdravka Medarova said.
“Given the lethal nature of this disease and the paucity of therapeutic options for patients with GBM, a therapeutic candidate with a novel mechanism of action, such as TTX-MC138, could have a dramatic impact on patient outcomes considering the evidence obtained to date of disease regressions by this therapeutic candidate in various cancers.”
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