FOSTER CITY, Calif. - Notable Labs, Ltd. (NASDAQ:NTBL), a clinical-stage precision oncology company, announced groundbreaking results from a study using cryopreserved samples in its Predictive Precision Medicine Platform (PPMP).
The study, presented at the American Association for Cancer Research (AACR 2024) in San Diego, demonstrated the viability of using frozen samples to predict patient responses to cancer treatments.
The study was designed to assess whether cryopreserved samples could be an alternative to fresh samples in predicting treatment response for acute myeloid leukemia (AML) using Notable's PPMP. Notable's research showed a strong correlation between results from fresh and frozen samples, with R2 values ranging from 0.77 to 0.92 for various compounds tested.
The findings indicate that Notable's PPMP can accurately predict clinical responses in AML patients, distinguishing between complete remission and refractory cases. This advancement potentially allows for the assessment of new treatment regimens, including combination therapies, using archived, cryopreserved samples.
Chief Executive Officer Dr. Thomas Bock expressed optimism about the implications of this innovation, suggesting that it could lead to new partnerships and treatment options for cancer patients. Chief Scientific Officer Dr. Joseph Wagner highlighted the company's commitment to innovation as they prepare to initiate the Phase 2 program with volasertib in the second quarter of 2024.
Notable Labs aims to revolutionize predictive precision medicine by identifying responsive patients before treatment, potentially accelerating clinical development. The company's strategy focuses on in-licensing to deliver medical impact and commercial value more efficiently than traditional drug development.
While the company will continue to evaluate and validate these sample handling methodologies, this study represents a significant step forward in the use of retrospective cohorts and the broad application of PPMP.
Notable Labs, headquartered in Foster City, California, seeks to transform the standard of care by predicting the most effective treatments for patients with cancer. This press release contains forward-looking statements that involve risks and uncertainties, and actual results may differ materially from those projected.
The information in this article is based on a press release statement from Notable Labs.
InvestingPro Insights
Amidst the promising scientific advancements made by Notable Labs, Ltd. (NASDAQ:NTBL), a closer look at the company's financial health and market performance through InvestingPro provides a nuanced perspective for investors. With a market capitalization of $14.47 million, Notable Labs stands as a small-cap company navigating the volatile biotech landscape.
An InvestingPro Tip highlights that Notable Labs is quickly burning through cash, which is a significant consideration for investors, given the company's pursuit of innovative cancer treatment methodologies.
Furthermore, the company's financial data reveals a gross profit margin of 76.15% for the last twelve months as of Q1 2023, indicating efficiency in generating profit from its revenue, albeit with a small revenue base of $0.13 million.
Still, the company's operating income margin was -9851.54% for the same period, underscoring the financial challenges faced by Notable Labs as it continues to invest heavily in research and development. This is further reflected by the company's negative P/E ratio of -1.2, signaling that it has not been profitable over the last twelve months.
Investors should note that the stock has experienced a significant decline of -63.15% over the last six months, which may be a point of concern or a potential entry point for those believing in the company's long-term vision. Additionally, Notable Labs does not pay a dividend to shareholders, emphasizing the growth-focused nature of the company.
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