Lakewood-Amedex Secures CRO for Nu-3 Phase 2 Trial, Advancing Lead Candidate
LABT sits 22% above its 52-week low of $2.58.
Summary
Lakewood-Amedex Biotherapeutics (LABT) has announced an agreement with Professional Education and Research Institute (PERI) to serve as the Contract Research Organization (CRO) for its upcoming Phase 2 clinical trial of Nu-3, its lead Bisphosphocin® product for mildly infected diabetic foot ulcers (iDFU). This operational step follows the positive antimicrobial resistance data for Nu-3 announced on May 1st, indicating a clear progression of the drug candidate into the next clinical phase. For a small-cap biotech, advancing a lead candidate into Phase 2 is a material de-risking event and a significant step towards potential commercialization. The selection of a specialized CRO with expertise in wound care suggests a focused and efficient approach to the trial. Investors will now monitor the initiation and progress of the Phase 2a study, particularly patient recruitment and initial data readouts.
At the time of this announcement, LABT was trading at $3.16 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $44.3M. The 52-week trading range was $2.58 to $9.82. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.