Helix BioPharma Corp (TSE:HBP) (OTCMKTS:HBPCF) is advancing its research into its patented cancer-fighting technology platform, with studies currently ongoing in the US.
L-DOS47 is currently in clinical trials for the treatment of non-squamous small cell lung cancer and pancreatic cancer. The Toronto-based company has launched a Phase I clinical study in the US, with a Phase Ib/II trial recently approved to go ahead.
READ: Helix BioPharma closes C$6 million private placement
Meanwhile, patient enrollment and screening commenced on the LDOS006 Phase Ib/II clinical study in the US for the treatment of patients with previously treated advanced pancreatic cancer, Helix revealed on Tuesday. Two patients have been enrolled to date, according to the company.
The Phase Ib portion of the study will test nine patients on three dose-escalating cohorts, while the Phase II portion will enroll an additional 11 patients depending on meeting safety and efficacy criteria, Helix told investors.
Helix spent around C$1.6 million in research and development costs during its fiscal second quarter ended January 31, 2020.
The company is also in the process of divesting its stake in a Polish subsidiary, which it hopes to complete before the end of fiscal 2020. Proceeds from the remaining 51% stake will fund clinical development programs. Helix will retain licensing agreements for future royalties and milestone payments.
The firm reported a net loss of C$2,255,000 during the three-month period ended January 31 or C$0.02 per share compared to a loss of C$1.9 million or C$0.02 per share a year prior.
Helix said it is currently looking to raise additional capital to advance its clinical development program and qualify for a NASDAQ listing.
On Monday, the company closed a C$6 million financing to support research and development.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas