PHILADELPHIA and VANCOUVER, British Columbia - BriaCell Therapeutics Corp. (NASDAQ: BCTX, BCTXW) (TSX: BCT), a biotechnology company in the clinical stage with a current market capitalization of $2.5 million, announced today that its Phase 3 study of Bria-IMT™ in combination with an immune checkpoint inhibitor for metastatic breast cancer will continue as recommended by the Data Safety Monitoring Board (DSMB). The DSMB, an independent panel of experts, found no safety concerns after their second review of the trial data. According to InvestingPro data, the company reported revenue of $0.32 million in the last twelve months, reflecting its early-stage development status.
BriaCell’s ongoing study has been granted Fast Track Designation by the Food and Drug Administration (FDA), reflecting the urgency in developing treatments for this severe form of cancer. The company’s President & CEO, Dr. William V. Williams, expressed satisfaction with the safety profile of the Bria-IMT™ combination therapy so far and noted the DSMB’s recommendation as a significant endorsement of the treatment’s potential.
Metastatic breast cancer remains a critical challenge in oncology, with significant impacts on patient survival and quality of life. The positive feedback from the DSMB is seen as a crucial step toward achieving BriaCell’s goal of transforming cancer care. Dr. Giuseppe Del Priore, BriaCell’s Chief Medical Officer, highlighted the importance of the DSMB’s review and the company’s commitment to providing further updates on the progress of the Phase 3 trial.
BriaCell focuses on the development of novel immunotherapies aimed at addressing unmet medical needs in cancer care. The company’s approach involves leveraging the body’s immune system to fight cancer more effectively.
The continuation of the Phase 3 study is based on current evidence and is subject to the inherent uncertainties of clinical trials. BriaCell has stated its intent to share additional information about the trial’s progress in future announcements.
This news report is based on a press release statement from BriaCell Therapeutics Corp. and does not contain any promotional content or endorsement of the company’s claims. The information provided is intended to offer a factual update on the status of BriaCell’s clinical trial for metastatic breast cancer. InvestingPro data shows the company’s overall Financial Health Score is currently rated as WEAK (1.21), with an EBITDA of -$4.22 million, highlighting the financial challenges typical of early-stage biotech companies.
In other recent news, BriaCell Therapeutics Corp. announced plans to conduct a public offering of common shares. The offering will be conducted on a best-efforts basis, with completion and terms depending on market conditions. ThinkEquity is acting as the sole placement agent for the offering. BriaCell intends to use the net proceeds from this offering for working capital, general corporate purposes, and advancing their business objectives. The offering will be made under a shelf registration statement on Form S-3, which became effective on January 31, 2024. The company emphasized that the press release does not constitute an offer to sell or a solicitation to buy the securities. The securities will not be sold in jurisdictions where such actions would be unlawful before proper registration or qualification. BriaCell’s forward-looking statements about the offering and the use of proceeds are subject to risks and uncertainties.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.