Faron Pharmaceuticals Oy (AIM:FARN, OTC:FPHAF) highlighted the progress made in the first half in developing its cancer immunotherapy candidate Bexmarilimab.
The clinical stage biopharmaceutical company peviously revealed that a phase I/II MATINS study showed 100% of checkpoint refractory skin cancer and bile duct cancer patients treated with Bexmarilimab survived for a year.
READ: Faron Pharma encouraged by survival rates in latest MATINS trial data
The focus for the remainder of 2022 continues to be the acceleration of Bexmarilimab's clinical development.
“Preparations for the pivotal expansion stage of the MATINS study, including confirmation of dosage, dose frequency and tumour type, are priorities for us,” said chief executive Dr Markku Jalkanen.
During the six months to end-June, the company also strengthened its cash position and welcomed new investor, The Leukemia & Lymphoma Society Therapy Acceleration Program, which will also help accelerate the development of Bexmarilimab.
Faron, which has yet to generate revenue, had a cash balance of €9.9mln at end-June versus €7.0mln at the end of December 2021.
Its interim operating losses widened to €13.4mln from €10.4mln in 2021.