Can-Fite To Seek FDA Clearance For Phase II Trial Of Namodenoson In Pancreatic Cancer

(RTTNews) - Can-Fite BioPharma Ltd (CANF), announced on Tuesday that preparations are underway for making an Investigational New Drug filing with the FDA to evaluate its lead drug candidate Namodenoson in a phase II exploratory study in pancreatic carcinoma.

The phase II exploratory trial will assess the safety and efficacy of Namodenoson in the treatment of patients with pancreatic cancer who have received at least one previous systemic therapy.

Asia, Europe and North America have the highest incidence rates for pancreatic cancer. In 2020, an estimated 496,000 people were diagnosed with pancreatic cancer globally and an estimated 466,000 died from the disease according to the American Society of Clinical Oncology (ASCO).

The 5-year survival rate for pancreatic patients is 11% in the US. The global pancreatic cancer therapeutics market was valued at around $3.6 billion in 2021 and is estimated to grow to around $6.6 billion by 2030 according to the Acumen Research.

Namodenoson is already being explored in a pivotal phase III study in hepatocellular carcinoma and in a phase IIb study in Nonalcoholic Steatohepatitis.

On Monday, shares of Can-Fite closed at $2.64 up 0.57% or $0.015 on the New York Stock Exchange. In premarket activity, the stock is trading at $2.81 up 6.44% or $0.77.