By The Life Science Report
Source: Streetwise Reports 07/08/2020
An update on Can-Fite BioPharma’s multiple drug treatment trials is provided in a Dawson James report.
In a July 6 research note, Dawson James analyst Jason Kolbert provided an update on Can-Fite BioPharma Ltd. (CANF:NYSE.MKT).
The Israel-based firm recently raised $3.4 million in capital, which Kolbert wrote is sufficient to get it through its upcoming catalysts. He expects additional raises in the future, however and added that “investors need to balance the raises against scientific progress.”
He reported on what is new with Can-Fite’s primary drug candidates, Namodenoson and Piclidenoson.
“Both hold great promise as alternative therapies with what appears to be a more favorable side effects profile,” commented Kolbert.
Additional Phase 2 data are available for Namodenoson in liver cancer, and they “shine,” Kolbert noted. Results showed that overall liver fat volume decreased with a high significance in patients who received Namodenoson versus those who received a placebo.
Also statistically significant was the percentage of fat volume decrease. Among the cohort that was treated with Namodenoson 12.5 milligrams (12.5 mg), the decline was 3.68%, and among the group that got 25 mg of Namodenoson, it was 4.33%. These compare to the 2.61% decrease among the placebo patients.
Next for Namodenoson is a Phase 3 pivotal trial, the design for which the U.S. Food and Drug Administration approved. Currently, the European Medicines Agency is reviewing the study protocol and registration plan.
Regarding Piclidenoson, enrollment now is about half complete for both of the Phase 3 pivotal trials, the ACROBAT study in moderate to severe rheumatoid arthritis and the COMFORT study in psoriasis.
Kolbert concluded, “Piclidenoson results in not one but two studies (ACROBAT and COMFORT) are coming, and there is even data in COVID. As a result, we would hold on, and let’s get to the data.”
Dawson James has a Buy rating and a $7 per share target price on Can-Fite BioPharma, which is now trading at about $1.83 per share.
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
Disclosures for Dawson James Securities, Can-Fite BioPharma Ltd., July 6, 2020
The Firm does not make a market in the securities of the subject Company (s). The Firm has NOT engaged in investment banking
relationships with CANF in the prior twelve months, as a manager or co-manager of a public offering and has NOT received compensation resulting from those relationships. The Firm may seek compensation for investment banking services in the future from the subject Company (s). The Firm has received other compensation from the subject Company (s) in the last 12 months for services unrelated to managing or co-managing of a public offering.
Neither the research analyst(s) whose name appears on this report nor any member of his (their) household is an officer, director or advisory board member of these companies. The Firm and/or its directors and employees may own securities of the company(s) in this report and may increase or decrease holdings in the future. As of June 30, 2020, the Firm as a whole did not beneficially own 1% or more of any class of common equity securities of the subject company(s) of this report. The Firm, its officers, directors, analysts or employees may affect transactions in and have long or short positions in the securities (or options or warrants related to those securities) of the company(s) subject to this report. The Firm may affect transactions as principal or agent in those securities.
Analysts receive no direct compensation in connection with the Firm’s investment banking business. All Firm employees, including the analyst(s) responsible for preparing this report, may be eligible to receive non-product or service specific monetary bonus compensation that is based upon various factors, including total revenues of the Firm and its affiliates as well as a portion of the proceeds from a broad pool of investment vehicles consisting of components of the compensation generated by investment banking activities, including but not limited to shares of stock and/or warrants, which may or may not include the securities referenced in this report.
Analyst Certification: The analyst(s) whose name appears on this research report certifies that 1) all of the views expressed in this report accurately reflect his (their) personal views about any and all of the subject securities or issuers discussed; and 2) no part of the research analysts compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed by the research analyst in this research report; and 3) all Dawson James employees, including the analyst(s) responsible for preparing this research report, may be eligible to receive non-product or service specific monetary bonus compensation that is based upon various factors, including total revenues of Dawson James and its affiliates as well as a portion of the proceeds from a broad pool of investment vehicles consisting of components of the compensation generated by investment banking activities, including but not limited to shares of stock and/or warrants, which may or may not include the securities referenced in this report.
( Companies Mentioned: CANF:NYSE.MKT,