Poolbeg Pharma PLC (AIM:POLB, OTC:POLBF) shares climbed as much as 20% in morning trading after the company secured a partner to run its next cancer trial and lined up free supply of a key therapy.
The London-listed biotech said Accelerating Clinical Trials (ACT), a UK-based blood cancer trials specialist, will oversee its Phase IIa study of POLB 001, an experimental drug aimed at reducing dangerous side effects from immunotherapies.
The trial, known as TOPICAL, will recruit around 30 patients with relapsed or refractory multiple myeloma and be led by Dr Emma Searle at The Christie NHS Foundation Trust in Manchester, alongside other leading cancer centres.
Participants will receive POLB 001 in combination with a bispecific antibody already used in treatment but prone to triggering cytokine release syndrome, a potentially life-threatening immune overreaction. POLB 001 is designed to mitigate that risk.
Poolbeg said it has sufficient POLB 001 manufactured for the trial, with interim data expected in summer 2026.
"If positive, this could serve as a catalyst for the share valuation, in our view, and significantly strengthen Poolbeg’s position in future Pharma partnering discussions," said Cavendish in a note.
The broker thinks the stock is worth 19p, a significant premium to the current price of 3.8p, up 4%.