Phase III Vicinium development on track

Shares of Eleven Biotherapeutics (Nasdaq: EBIO) rose 5.8% in regular trading and a further 2.1% to $1.48 after hours, after the company announced positive progress with its bladder cancer drug candidate, Vicinium, a recombinant fusion protein designed to specifically target and deliver an anti-cancer payload directly to tumor cells.

It said that its Phase III registration trial of Vicinium in non-muscle invasive bladder cancer (NMIBC) has exceeded 50% enrollment and that the independent Data and Safety Monitoring Board (DSMB) for the trial has recommended that the trial continue as planned. The DSMB reviewed available data to assess the risk/benefit to patients on drug and recommended that the trial continue without modification.

Eleven took over the development of Vicinium along with its $13.5 million acquisition of Canada’s Viventia Bio last September.