Faron Pharmaceuticals Limited (AIM:FARN) will release updated results from its BEXMAB clinical study of its drug bexmarilimab next Tuesday (Mar 19) with analysts and investors keenly eyeing disease progression data from patients with myelodysplastic syndromes (MDS), a type of blood cancer.
Panmure Gordon in a research note pointed out the median survival rate for people with the refractory form of the disease is four to six months.
It pointed out that three out of four members of a cohort – those that didn’t respond to a treatment called a hypomethylating agent – had already shown “above median survival”.
Across the broader patient intake, 11 of the 22 MDS sufferers showed an objective response, including five out of five people with refractory MDS.
The BEXMAB study is a phase I/II clinical trial of bexmarilimab that will be pivotal to the direction of ongoing discussions with potential industry partners.
Panmure reckons it is likely putative licensees of the drug will wait until at least the end of the phase II element of the current evaluation before tabling offers to pick up the development of the asset.
Panmure says its rating of Faron's stock remains under review until the company has finalised its longer-term funding arrangements.