Adelaide-based biopharmaceutical company Bionomics’ came out of its share trading halt today, announcing results of key drug trials.
The news didn’t impress investors with the Thebarton company’s share price tumbling from 74 cents to 58 cents in the first half hour of trade, despite recent analysts expectations of a lift when the results were released.
Bionomics is developing treatments for cancer, central nervous system disorders such as anxiety, depression and Alzheimer’s Disease.
The company’s portfolio of drug candidates range from being in early to advanced stages of clinical development.
Bionomics announced the results of the DISRUPTOR-1 trial of BNC105 in patients with metastatic renal cancer.
“The DISRUPTOR-1 trial has been the first of its kind in testing the combination of an mTOR inhibitor with a vascular disrupting agent in renal cancer, with the prospect of adding a new dimension to the renal cancer treatment armamentarium,” said Dr Deborah Rathjen, Bionomics’ CEO & Managing Director.
“Significant progress has been made in validating BNC105 as an anti-cancer agent.
“Through patient subgroup analysis and association of biomarkers to treatment benefit, the data from this trial shows us the best way forward to maximising the utility of BNC105 for renal cancer patients, as well as how to best employ the drug in other cancer types.
“DISRUPTOR-1 has produced a ground-breaking discovery of potential biomarkers that may allow pre-treatment selection of patients most likely to benefit from BNC105.
“We are exploring partnership opportunities for BNC105 and expect to attract a depth of interest given the compelling data generated from this trial and the recent ovarian cancer trial data.
“Significant progress has been made in validating BNC105 as an anti-cancer agent.”
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