Pharmacyte Biotech Inc (OTCMKTS:PMCB) reported that its follow-up trial on ascites commenced last week. The trial is being performed by Translational Drug Development to assess the efficacy of company’s pancreatic cancer therapy on the accumulation rate of malignant ascites fluid in people suffering with pancreatic cancer and other forms of abdominal tumors.
Pharmacyte reported that the second follow-up trial was prepared by Dr. Daniel D. Von Hoff and key members of its scientific team. It marks the third trial on ascites being performed by Translational Drug Development. In this trial, as done in the previous two trials, test was carried on mice with ovarian cancer. The team will use nine groups of mice in this trial, with ten mice in each group. The plan is to use one group as a vehicle control. In other eight groups in study, four different dosage of ifosfamide will be administered.
The primary objective of the trial is to “fine tune” company’s treatment to reduce the accumulation pace of ascites that will work best in the clinical site. Pharmacyte’s treatment administers low dosage of the prodrug ifosfamide along with Cell-in-a-Box® capsules. These unique capsules contain live cells that are capable of turning ifosfamide into cancer-killing form.
Kenneth L. Waggoner, the CEO said that after thorough analysis and consideration of results from the first two trials on ascites, they are of view that the second follow-up trial is appropriate. Together with the data of the first follow-up trial, the parameters deemed essential for planning a Phase I clinical study would be clearly defined after the study ends. All of these trials are extremely imperative, not only for Pharmacyte but also for the patients who suffer from malignant ascites.
In last trading session, the stock price of Pharmacyte surged more than 6% to close the trading session at $0.120. The gains came at a share volume of 3.47 million compared to average share volume of 2.36 million.