Shares of Faron Pharmaceuticals Limited (AIM:FARN) surged 13% following positive initial results from phase II of its BEXMAB trial.
The trial focuses on treating myelodysplastic syndrome (MDS) patients who have failed hypomethylating agent (HMA) therapy.
The treatment group expanded from eight to 14 patients, showing an impressive objective response rate (ORR) of 79%.
These patients experienced a median overall survival (mOS) of about 13 months, compared to the historical 5-6 months under standard care.
The phase I trial had already demonstrated an ORR of 87.5% among patients with MDS, a form of blood cancer. The combination of bexmarilimab and the chemotherapy drug azacitidine has been well tolerated, with a true remission rate of 64%. Two patients have progressed to potentially curative bone marrow transplants.
Analysts at Peel Hunt described bexmarilimab as a "promising asset in the oncology landscape".
"It potentially offers a new care paradigm to patients with limited options in MDS and other myeloid malignancies," they added.
"The prospect of complete responses, marrow remissions, and bone marrow transplantation (as mentioned today) are particularly encouraging, as these patients are rarely brought to remission under existing treatments."
In early trading Faron stock was changing hands for 283p, up 33p.