A new biopharma play just popped onto investors’ radars this morning. The Bio-Path (NASDAQ:BPTH) camp is exciting shareholders and spurring a vast influx of trading volume today. The company is reporting a potential new application for one of its cutting-edge drugs. BPTH stock is rocketing as a result.
Bio-Path is a company based out of Houston, Texas. It seeks to help treat cancer patients with oncological treatments. The company uses nanoparticle RNAi technology to achieve its goals; the technology is called DNAbilize, and the company reports it to be non-toxic, unlike other treatments of a similar kind.
The company aims to help treat older patients. This is because it primarily targets acute myeloid leukemia (AML) and chronic myeloid leukemia (CML), two cancers that typically affect seniors.
Today, the company is announcing that it has made a new treatment discovery for its second product, BP1002. The drug, which is meant to treat AML, is apparently highly effective at treating patients who may fail treatment elsewhere.
BPTH Stock Soars as Company Seeks to Treat Relapsed Cancer Patients
A press release is detailing the company’s newest discovery about its BP1002 treatment. Particularly, the company says the drug is proving effective at treating AML in patients whose cancer relapsed after treating their illness with venetoclax.
Venetoclax is one of the most popular AML treatments. Thus, it is likely one of the first options a patient will have for treating the disease. However, it doesn’t always prove to be wholly effective. Given that an AML diagnosis typically has a five-year survival rate, a relapse in the illness is hugely detrimental to helping patients live out their remaining years in comfort.
The company says through its release that it has only just made this groundbreaking discovery. Thus, it is planning on conducting an extensive clinical trial into the efficacy of BP1002 in treating relapsed patients. Bio-Path hopes to have more solid numbers surrounding the effectiveness of the drug in this class of patient through a four-week treatment program.
This news is helping to introduce BPTH stock to a new crowd of investors, and it’s padding the stock’s value today. The play is moving up over 19%, and trading volume is massively increasing. More than 56 million shares are trading hands today, against a daily average volume of 200,000.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.