Kintara Therapeutics Inc (NASDAQ:KTRA), the cancer-focused biopharma posted its second-quarter results on Friday noting that it was an "important period of progress" for the company, which is advancing two late-stage, Phase 3-ready therapeutics - VAL-083 for glioblastoma multiforme (GBM) and REM-001 for cutaneous metastatic breast cancer (CMBC).
A major recent milestone for the company was receiving approval from the FDA and Global Coalition for Adaptive Research (GCAR) to participate in the GBM AGILE study - a registrational trial whereby VAL-083 is being evaluated in all three GBM patient subtypes. Patient recruitment for the VAL-083 arm of the study is underway.
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The Phase 2/3 trial, titled GBM AGILE (Glioblastoma Adaptive Global Innovative Learning Environment) is evaluating multiple therapies simultaneously in patients with newly diagnosed and recurrent GBM.
Val-083 is the only therapeutic agent in the trial being evaluated in all three GBM patient subtypes: newly diagnosed methylated MGMT, newly diagnosed unmethylated MGMT and recurrent.
"The second quarter of fiscal year 2021 proved to be an important period of progress as we continued to advance to the latter stages of clinical development for VAL-083, our first-in-class small-molecule chemotherapeutic, and REM-001, our photodynamic therapy platform that is maintaining development pace in its confirmatory cutaneous metastatic breast cancer study," said Saiid Zarrabian, Kintara's CEO in the results statement.
For the three months to December 31, 2020, the group posted a net loss of around $5.4 million, or $0.22 per share, compared to a net loss of around $1.7 million, or $0.15 per share, for the fiscal second quarter a year earlier. As of the end of 2020, the company had cash and equivalents of approximately $17.2 million.
Contact the author at giles@proactiveinvestors.com