Sareum Holdings Plc (LON:SAR) has played down a report by the Institute of Cancer Research (ICR) on a treatment the two organisations are developing jointly.
Shares in Sareum jumped nearly 20% yesterday as investors latched onto an article by the ICR that was published in Molecular Cancer Therapeutics earlier this month.
The article referred to the evaluation of a Sareum/ICR developed CHK1 inhibitor, CCT244747, combined with radiotherapy in head and neck squamous cell carcinoma.
In a statement Sareum said: “Although the CHK1 inhibitor had beneficial effects, Sareum concluded, following consultation with its nominated adviser, that the information was not price sensitive as the ICR had previously published in 2013 on the benefits of a Sareum/ICR developed CHK1 inhibitor combined with radiotherapy.”
The CHK1 inhibitor used in the latest evaluation was also not the CHK1 inhibitor, CCT245737 currently undergoing clinical trials co-funded by Sareum, it added.