Subsidiary Biomica's Cancer Drug Shows Favorable Safety, Clinical Activity in Phase 1 Study
EVGN sits 45% above its 52-week low of $0.65.
Summary
Evogene's subsidiary Biomica successfully completed a Phase 1 clinical study for its live bacterial product, BMC128, in combination with Nivolumab. The study met its primary endpoint, demonstrating favorable safety with no dose-limiting toxicities and preliminary signals of clinical activity. This positive development comes amidst a challenging period for Evogene, which recently received a Nasdaq delisting notice, disclosed going concern doubts, and terminated a project with Bayer. The successful Phase 1 trial provides a much-needed positive data point for the company's pipeline.
At the time of this announcement, EVGN was trading at $0.94 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $8.3M. The 52-week trading range was $0.65 to $2.42. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.