Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) published the preclinical data for CYC065, its second-generation, kinase inhibitor, which exhibited itself as a potential anti-cancer agent.
Combination with other drugs
The data established that CYC065 can prompt cell death. Also, the agent can be combined with other anti-cancer drugs belonging to the Bcl-2 and BET inhibitor classes. The data were made public at 2016 Annul Meeting by the American Association for Cancer Research that took place in New Orleans in between April 16-20, 2016.
President and CEO of Cyclacel, Spiro Rombotis, said that CYC065 is currently undergoing Phase I clinical trials to determine its pharmacodynamic activity in patients with lymphomas and tumors. CYC065 is also tested for its safety and pharmacokinetic aspects. The preliminary data, however, establishes that the agent is effective in treating hematological malignancies, like B-cell lymphoma. At the same time, the study also validates that CYC065 can be used in combination with other anti-tumor drugs in lymphomas.
The company is on track to enrol more patients into the Phase I study and aims to report the initial results of the study at the earliest.
Meanwhile, the company has been granted the permission to continue to list on the NASDAQ stock exchange. The company has confirmed that it has received written ruling from the Nasdaq hearing panel in this regard.
However, the company has to fulfill the listing requirements of the stock exchange and has been provided time till June 14, 2016, to attain the compliance. The company has to record closing bid of $1 per share for ten consecutive business sessions before the close of the said deadline. The company has already asked its shareholders to approve reverse stock split in order to comply with the listing rules. In case, Cyclacel fails to meet the minimum bid price requirement before June 14, 2016, then it might have to face suspension from the exchange.