Purple Biotech reports Phase II study of CM24 in pancreatic cancer

Shares of Israel-based clinical-stage company Purple Biotech (TASE/Nasdaq: PPBT) jumped 9.5% to 6.90 shekels after it announced positive final results from the randomized Phase II study of its lead oncology drug, CM24, a humanized monoclonal antibody that blocks CEACAM1, in patients with pancreatic ductal adenocarcinoma (PDAC).

"We are very excited about the final data, demonstrating CM24's clear and consistent improvement across all efficacy endpoints evaluated in our randomized Phase II study," stated Purple Biotech chief exective Gil Efron, adding: "The enhanced results in patients with CEACAM1 and other serum markers gives us further optimism that a biomarker enriched patient population selection could further strengthen CM24's magnitude of efficacy, potentially positioning CM24 as a treatment for multiple CEACAM1-expressing malignancies in line with its mechanism of action."

Dr Michael Cecchini, associate Professor of Medicine at the Yale Cancer Center, a principal investigator in this study, commented: "The promising results in PDAC, along with the identification of a potential patient subgroup that may benefit from targeting CEACAM1 and NET serum levels, potentially position CM24 as an encouraging treatment option. As a clinician, it is inspiring to see data that suggest the potential for improved outcomes in patients with late-stage metastatic PDAC, who desperately need new and effective therapies. These findings support further investigation of CM24 in combination with a checkpoint inhibitor and standard-of-care chemotherapy to improve outcomes not only in PDAC but also in other challenging cancer types."