Biodexa Pharmaceuticals (NASDAQ:BDRX) stock is rocketing higher on Thursday after announcing additional positive results from a Phase 2 clinical trial.
According to the company, results from its study of eRapa are going well. This is its treatment candidate for Familial Adenomatous Polyposis (FAP). That’s a mostly inherited condition that increases the risk of developing colorectal cancer.
Results from 12 months of study show a median 17% decrease in overall polyp burden. It also showed an overall non-progression rate of 75%. 89% patients in the Cohort 2 part of the study were deemed non-progressors at 12 months.
Stephen Stamp, CEO of Biodexa Pharmaceuticals, said the following about the results.
“The six-month, and now 12-month, data together with its apparent tolerability suggest longer-term use of eRapa may be possible, with the potential to forestall resection and substantially increase the quality of life of patients with this devastating precancerous condition impacting up to 40,000 patients in the U.S. and up to 60,000 in Europe.”
How This Affects BDRX Stock
Biodexa Pharmaceuticals stock is seeing heavy trading on Thursday alongside this news. That has more than 58 million shares traded as of this writing. For the record, the company’s daily average trading volume is about 3.8 million shares.
BDRX stock is up 56.1% as of Thursday afternoon.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
