CARDIFF - Biodexa Pharmaceuticals PLC (NASDAQ:BDRX), a biopharmaceutical company engaged in developing treatments for diseases with significant unmet medical needs, has reported a 12-month survival for a patient in its ongoing MAGIC-G1 study of MTX110 for recurrent glioblastoma (rGBM). The study is being conducted at Duke Cancer Institute and Baptist MD Anderson Cancer Center.
The patient, part of an open-label Phase I dose-escalation study that began recruitment in October 2023, received weekly infusions of 60µM MTX110 and has survived for 12 months since the start of treatment. Three additional patients who received weekly infusions of 90µM MTX110, considered the optimum dose, continue to participate in the study.
Glioblastoma Multiforme (GBM) is the most common and aggressive brain tumor in adults, with a typical incidence of 3-4 cases per 100,000 population. The current standard of care involves surgical resection followed by radiotherapy and chemotherapy, but the prognosis remains poor, with a median overall survival of 6.5 months after recurrence. No standard treatment exists for rGBM.
MTX110 is a water-soluble formulation of panobinostat, a histone deacetylase inhibitor, designed for direct delivery to the tumor site. This method potentially avoids systemic toxicity by bypassing the blood-brain barrier and exposing the tumor to high drug concentrations.
Biodexa's pipeline also includes tolimidone for Type 1 diabetes and other products for rare brain cancers. The company is headquartered in Cardiff, UK, and focuses on proprietary drug delivery technologies to enhance the bioavailability of medicines.
This information is based on a press release statement from Biodexa Pharmaceuticals PLC. The company's forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.
InvestingPro Insights
As Biodexa Pharmaceuticals PLC (NASDAQ:BDRX) continues its efforts in advancing treatments for diseases with high unmet medical needs, the financial landscape presents a mixed picture. With a challenging prognosis for patients suffering from recurrent glioblastoma, the company's focus on innovative drug delivery technologies is more crucial than ever.
According to real-time data from InvestingPro, Biodexa holds a market capitalization of just $3.54 million, reflecting the small scale of the company in the vast biopharmaceutical industry. The company's revenue for the last twelve months as of Q2 2023 stands at $0.67 million, with a notable revenue decline of 17.98% during the same period. These figures underscore the financial hurdles Biodexa faces, particularly as it confronts a gross profit margin of -835.54%, indicating significant challenges in achieving profitability.
From the InvestingPro Tips, two key insights emerge that are pertinent to investors following Biodexa's journey. Firstly, the company holds more cash than debt on its balance sheet, suggesting a degree of financial stability in the short term. Secondly, the stock's recent performance indicates that it is in oversold territory according to the Relative Strength Index (RSI), a potential signal for investors looking for entry points into the stock.
For those seeking to delve deeper into Biodexa's financial health and stock performance, InvestingPro offers a wealth of additional tips—16 more, to be precise. These insights can be accessed by visiting https://www.investing.com/pro/BDRX and can be invaluable in making informed investment decisions. To enhance the value of this resource, use coupon code SFY24 to get an additional 10% off a 2-year InvestingPro+ subscription, or SFY241 to get an additional 10% off a 1-year InvestingPro+ subscription.
While Biodexa's clinical developments offer hope for patients, the company's financial metrics and InvestingPro Tips provide a sobering perspective on the challenges and opportunities that lie ahead for investors.
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