Rakovina Therapeutics Inc (TSX-V:RKV) reported significant progress in its aim to improve the lives of cancer patients through the development of novel DNA-damage response inhibitor therapeutics during the third quarter.
Notably, the company appointed Professor Artem Cherkasov and Professor Petra Hamerlik to its Scientific Advisory Board.
“Profs. Hamerlik and Cherkasov joining our Scientific Advisory Board signifies a pivotal step in our pursuit of cutting-edge advancements in oncology drug development,” Rakovina executive chairman Jeffrey Bacha said in a statement.
The company also presented data which demonstrated the potential of its kt-3000 series of DNA-damage response inhibitors to treat cancers that are resistant to first-generation PARPi and the potential to address unmet medical needs in the treatment of a range of cancers including leukemia, breast cancer, liver cancer, glioblastoma, prostate cancer, Ewing sarcoma and anaplastic thyroid cancer.
“Our strides in the kt-3000 series program, especially the presentation at the AACR-NCI-EORTIC Molecular Targets and Therapeutics Meeting and the publication in the Journal of Clinical Cancer Research showcase the promising potential of our drug candidates,” Bacha said.
“The ability to tackle resistant cancers and address unmet medical needs across various types of cancer is truly groundbreaking.”
The executive highlighted that Rakovina was focused on translating this progress into meaningful clinical impact, with the goal of initiating human trials with a lead candidate in 2024.
“Each milestone brings us closer to transforming the landscape of cancer treatment, offering hope and innovative solutions for patients worldwide,” he said.
For the quarter ended September 30, 2023, the company reported a net loss of $646,968 or $0.01 per share.
Its research and development expenses were $426,852 and its general and administrative costs were $163,416 for the quarter.
Rakovina is focused on the development of new cancer treatments based on novel DNA-damage response technologies.
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