TapImmune Inc. (OTCMKTS:TPIV) reported another session of double-digit growth as the stock of the company soared steeply for second consecutive day. The reason behind the company’s stock rally is the robust results achieved in its Phase I clinical trial. The company reported that 19 out of 22 patients showed positive immune response when treated with HER2/neu vaccine.
In its official note, TapImmune Inc. (OTCMKTS:TPIV) revealed that breast cancer patients, who followed standard treatment during the Phase 1 trial at the Mayo Clinic were declared disease free. The report highlighted that a total of twenty-two subjects in the age group of 33-69 years were enrolled in the Phase 1 trials. These patients were given injections of multi-peptide vaccine six times over a period of six months. Out of these patients, a total of 21 patients completed all the six vaccination cycles, while 19 of the total 21 patients showed immune response.
Recent series of successful trials
TapImmune Inc. (OTCMKTS:TPIV)’s Dr. Glynn Wilson was extremely pleased with the development as he said that the 85% success ratio in treating breast cancer patients is encouraging. He added that the successful conclusion of the Phase 1 trials with positive immune responses will help the company to pursue Phase II trials as it plans to expand its clinical pipeline for treating ovarian and breast cancer. Wilson said that the Phase I trial results validate the technology and approach employed by Professor Keith Knutson at Mayo Clinic.
The Phase I trial results add to the company’s recent success in first phase trials of Folate Receptor Alpha Vaccine in triple negative breast cancer and ovarian cancer. The company has recently received a capital infusion amounting $2.5 million from its largest institutional investor, Eastern Capital Ltd. The stock of TapImmune Inc. (OTCMKTS:TPIV) was up by more than 31% to $1.51 as nearly 1.73 million shares traded during the previous session.