Shares in ValiRx Plc (LON:VAL) opened higher on Thursday after the biotech firm announced it had completed the dosing stage of the phase II clinical trial of its novel cancer treatment drug VAL401.
The process of final data collection, regulatory submissions for trial completion and finally for data analysis, is now underway, ValiRx added.
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Initial results from the trial suggest that 2mg doses of VAL401 are “broadly safe and tolerated” and the company will therefore use this as the preferred dose in future studies.
ValRx said that the study showed that VAL401 biologically interacts with the patient population, “demonstrating suitability of our proposed treatment paradigm”.
The chief executive of ValiSeek – the joint venture company set up to progress VAL401 through the clinic – Suzy Dilly, said: "It is gratifying to be able to share this early trial data release, and in particular to be able to confirm anticipated dosing levels in preparation for the next trial.
READ: ValiRx to accelerate pre-clinical trials of cancer-fighting molecule after development breakthrough
“The analytical databases are now being continuously populated, and I anticipate analysis from this final database to be available, on schedule, before year end."
Shares opened 3.9% higher at 1.09p.