Poolbeg Pharma PLC (AIM:POLB, OTC:POLBF) shares rose 3% on Monday after the company said it was entering a “catalyst-rich period” of clinical development.
The group reported a cash balance of £10 million at the end of June, bolstered by £4.9 million from an oversubscribed fundraising.
Lead candidate POLB 001 was granted Orphan Drug Designation by the US Food and Drug Administration as an oral preventative treatment for cytokine release syndrome caused by T-cell engager bispecific antibodies.
A phase IIa trial is set to begin at The Christie NHS Foundation Trust and other UK cancer centres, with interim data expected in summer 2026. A separate obesity study of its oral GLP-1 drug is also planned.
On the cancer study, Cavendish noted: "[It] is at an advanced stage of preparation, with interim data expected in Summer 2026, which, if positive, could serve as a catalyst for the share valuation, in our view, and significantly strengthen Poolbeg’s position in future Pharma partnering discussions."
The broker reckons the shares are worth 19p, a significant premium to the current price of 4.03p, up 0.13p.