Wednesday, January 19, 2022

Can-Fite BioPharma Ltd. (CANF) stock rose during after-hours. Here’s to know why

Can-Fite BioPharma Ltd. (NASDAQ: CANF) stock declined by 2.27% at last close whereas the CANF stock price gains by 6.05% in the after-hours trading. Can-Fite BioPharma is a company that makes drug products with a platform technology targeted to reach multi-billion dollar markets in cancer, liver, and inflammatory disease therapy.


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CANF stock’ Update

Can-Fite BioPharma stated that the last of about 400 psoriasis patients had been recruited in its Phase III Comfort research. Piclidenoson, their primary lead medication candidate, will be used for a 16-week cycle of therapy in the trial starting in January 2022. The study’s primary objective is the 16-week treatment period, and the company plans to release topline results in Q1 2022.


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In Europe, Israel, and Canada, a randomised, double-blind, active and placebo-controlled investigation is being carried out. The number of individuals who obtain a PASI score response of 75% (PASI 75) vs placebo at week 16 is the study’s main goal. Non-inferiority to Otezla in weeks 16 and 32 is a secondary objective. The study’s participants were chosen based on their overexpression of A3AR, CANF’s main focus.

According to stats, in 2020, Otezla expects to generate $2.2 billion in revenue. The psoriasis treatment market is expected to reach $11.3 billion by 2025, as per iHealthcareAnalyst. However, Piclidenoson has been out-licensed for the treatment of psoriasis in a number of key regions, including Canada, Europe, and Asia.

Can-Fite CEO Dr. Pnina Fishman commented that,

A noteworthy milestone for their primary medication candidate is the fulfilment of treatment in a Phase III trial. The Independent Data Monitoring Committee’s good initial analysis of the data along with treatment of the first 200 patients in this research gave them hope. Piclidenoson appears to have benefitted the individuals who received it, and it may give safe, long-term relief from psoriasis symptoms.

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