Can-Fite BioPharma (NYSEAMERICAN:CANF) stock is rocketing higher on Monday thanks to new data from a Phase II clinical trial.
The big news today comes from the last person signed up to take part in the study via an Open Label Extension program. This individual experienced a Complete Response to Can-Fite BioPharma’s treatment, which resulted in all cancer lesions being cleared.
The person in the study was suffering from hepatocellular carcinoma. This is the most common form of liver cancer. Can-Fite BioPharma used its Namodenoson treatment in this study and today’s results come after five years.
On the heels of today’s news Can-Fite BioPharma has announced plans to launch a Phase III study next year. It will start enrolling patients in this study during the first quarter of the year.
Dr. Michael Silverman, Medical Director at Can-Fite BioPharma, said the following in the news release sending CANF stock higher today.
‘It is our hope that our upcoming pivotal Phase III study will demonstrate Namodenoson’s efficacy in treating patients with similarly advanced HCC and thereby potentially offer longer survival to liver cancer patients across the world.”
The positive clinical study news today has CANF stock seeing heavier-than-normal trading. That includes some 128 million shares of the stock changing hands. This is a massive jump over its daily average trading volume of around 233,000 shares.
CANF stock is up 58.3% as of Monday afternoon.
There’s more stock market news for investors to dive into below!
InvestorPlace houses all the latest stock coverage traders need to know about for Monday. That includes why stocks are down today, as well as what’s happening with shares of Ocugen (NASDAQ:OCGN) and Society Pass (NASDAQ:SOPA). You can find all of that by checking out the following links!
More Monday Stock Market News
- Monday Market News: Why Are Stocks Down Today?
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- SOPA Stock: 11 Things to Know About Newly Public Society Pass as It Joins the Russell 2000
On the date of publication, William White 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.
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