Faron Pharmaceuticals Oy (DI) (FARN)

Sector:

Pharma and Biotech

Index:

FTSE AIM All-Share

175.19p
   
  • Change Today:
    -4.81p
  • 52 Week High: 350.00
  • 52 Week Low: 117.50
  • Currency: UK Pounds
  • Shares Issued: 72.01m
  • Volume: 6,947
  • Market Cap: £126.15m

Faron shares jump on encouraging trial data

By Josh White

Date: Monday 18 Mar 2024

LONDON (ShareCast) - (Sharecast News) - Faron Pharmaceuticals announced further encouraging data from the first phase of its 'BEXMAB' trial on Monday, targeting higher-risk (HR) myelodysplastic syndrome (MDS) patients who had failed prior hypomethylating agent (HMA) treatment.
The AIM-traded firm said the study, now advanced into its second phase, aimed to address a critical gap in treatment options for this patient population.

It said the latest findings revealed a notable increase in the number of patients responding to treatment and demonstrating sustained remission.

Among the initial phase one HR HMA-failed MDS patients, four out of five were still alive after an eight-month follow-up period.

Although median overall survival (mOS) data was pending, the observed survival benefit surpassed conventional benchmarks, providing an optimistic outlook for patient outcomes compared to current standards of care.

Additionally, the enrollment of three more HMA-failed HR MDS patients brought the total to eight, with seven out of eight patients showing a positive response to treatment, yielding an overall response rate (ORR) of 87.5%.

Notably, responses included complete response (CR), marrow complete remissions (mCR), partial response (PR), haematological improvements, and stable disease (SD).

Despite one patient discontinuing early due to an unrelated serious adverse event (SAE), the observed efficacy of bexmarilimab in combination with azacitidine still showed potential as a viable therapeutic option for the challenging patient population.

"These data are really remarkable and confirm our belief that we may finally have a treatment for this underserved patient population," said chief executive officer Dr Markku Jalkanen.

"The data are strongly supportive that a registrational trial would be positive against any contemporary comparator when the final endpoint is survival.

"We eagerly await completion of the phase two part of the BEXMAB study so we can take these data to the FDA as soon as possible."

At 1435 GMT, shares in Faron Pharmaceuticals were up 28.57% at 180p.

Reporting by Josh White for Sharecast.com.

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FARN Market Data

Currency UK Pounds
Share Price 175.19p
Change Today -4.81p
% Change -2.67 %
52 Week High 350.00
52 Week Low 117.50
Volume 6,947
Shares Issued 72.01m
Market Cap £126.15m

FARN Star Ratings

Compare performance with the sector and the market.
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Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
56.86% below the sector average56.86% below the sector average56.86% below the sector average56.86% below the sector average56.86% below the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 1
Strong Sell 1
Total 3
sell
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FARN Dividends

No dividends found

Trades for 29-May-2024

Time Volume / Share Price
14:44 5 @ 185.00p
11:35 5,000 @ 182.25p
09:53 541 @ 182.50p
09:23 549 @ 181.20p
09:19 838 @ 181.00p

FARN Key Personnel

CEO Juho Jalkanen
Chair Tuomo Pätsi

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