NeOnc rises as experimental brain cancer therapy meets main study goal
NTHI•Study results for NEO100
Shares of NeOnc Technologies NTHI.O rise 12.4% to $4.89 premarket.
The clinical-stage brain cancer drug developer says experimental brain cancer therapy NEO100 met the main goal in a mid-stage study in recurrent high-grade glioma, an aggressive brain tumor that has returned after treatment.
The company says six-month progression-free survival was 48.9%, above the study's pre-specified 20% benchmark for standard care.
The company reported median overall survival of 26.1 months, with 86.7% of patients alive at six months.
The company says no major toxicities were reported and side effects were mainly low-grade.
FDA pathway and market context
The company plans a Type B meeting with the FDA to discuss a potential registration pathway in a setting with no approved targeted therapies.
As of last close, the stock was down about 47% year to date.
