Sophiris Bio Inc. (NASDAQ:SPHS) share price rose substantially just hours after it was reported that its study on prostate cancer treatment was on its way to a big success. The study on Topsalysin showed promising results after the just completed Phase 2a of the study.
The results of the study
A total of 18 patients of localized prostate cancer were involved in the phase 2a of the study. Of these patients, Topsalysin was able to euthanize tumor cells in 9 patients. The remaining 9 patients did not respond to the treatment.
In general, patients responded well to the administration of the drug in six months as neither new safety signals nor serious adverse side effects were recorded. These results pave way for the next phase of the study that will investigate the right dosage and appropriate delivery mode.
According to Mark Emberton, an investigator, dean and Honorary Consultant Urologist said that the early results showed that a simple prostrate injection will be enough to treat prostate cancer in the future if it is diagnosed at its early stages. This can be done in an office, without the need for sophisticated gadgets.
Dr. Hashim Ahmed, also an investigator added that the results have boosted the company’s confidence in topsalysin, and the next phase 2 study can only be better. Sophiris’s Chief Operating Officer Allison Hulme, Ph.D further said that with the results so far obtained, topsalysin has demonstrated that it can be used to ablate localized prostate cancer cells without exposing the patient to health complications and adverse side effects
How the share price reacted
Investors reacted to this good news positively. There was an upsurge of the share price just hours after the biopsy results were announced on Thursday. Precisely, there was a 74% increase to $2.04 after several hours.