Actinium Pharmaceuticals Inc (OTCMKTS:ATNRW) is opening another clinical trial to test its cancer drug Actimab-A.
This new study will address whether Actimab A can be used to treat patients who are in remission from acute myeloid leukemia but still have detectable minimal residual disease, which means cancer cells exist at low levels and can trigger relapses.
"It will be a significant advancement for acute myeloid leukemia patients if this trial shows the ability to target minimal residual disease and reduce relapse rates," said Dr. Joseph Jurcic, director of the Hematologic Malignancies section and a professor at Columbia University Medical Center, who is leading the new trial.
Jason McCarthy, an analyst with Maxim Group who has a Buy rating and US$3 price target on the stock, says the application of Actimab-A to leukemia patients in remission suggests the antibody can be used across the spectrum of acute myeloid leukemia.
“With a highly targeted, low dose, high potency and safer approach, Actimab could improve patient outcomes such as progression-free survival and overall survival,” he adds.
As many as 21,000 patients are diagnosed with acute myeloid leukemia yearly in the US and over 350,000 cases of acute myeloid leukemia exist worldwide.
Actinium’s shares shot up 31.2% to US$0.21 in afternoon trade on the news.