Celsion (NASDAQ:CLSN) stock is rising higher on Thursday after the release of a letter to shareholders from chairman, president and CEO Michael Tardugno.
Tardugno’s letter to shareholders goes over several recent details about the company’s operations. That includes the development of Placcine, which is its TheraPlas technology. This is the company’s platform for creating vaccines.
According to the CEO, Placcine is able to be easily modified. That means it could be used for the quick development of vaccines. This, in turn, could allow the company to use it to treat multiple strains and mutations of disease faster than normal.
More good news for CLSN stock is an update to its Phase II trials to treat ovarian cancer. The company wants to use its TheraPlas platform in combination with chemotherapy to shrink tumors down before they are surgically removed.
The company’s CEO notes that it has already enrolled one-third of the patients needed for this study at 19 active centers. It plans to have all 25 centers ready to go by the end of the current quarter.
Finally, Tardugno weighs in on the company’s failed Phase III OPTIMA Study in HCC.
“A single disappointing study does not mean an end to the future of ThermoDox®. Following inquiries from the NIH, we intend to renew our Cooperative Research and Development Agreement (CRADA) with the Institute at a nominal cost, one goal of which is to pursue their interest in a study of ThermoDox® to treat patients with bladder cancer.”
CLSN stock was up 27.2% as of Thursday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.