What's Going On With Rare/Orphan Disease Focused-Biodexa Pharmaceuticals Stock Friday?
Portfolio Pulse from Vandana Singh
Biodexa Pharmaceuticals PLC (NASDAQ:BDRX) announced R&D updates including Phase 1 clinical trial results of MTX110 in diffuse midline glioma (DMG) patients, showing a median overall survival of 16.5 months. A severe adverse event was reported in one patient, deemed unrelated to MTX110. Additionally, inconclusive preclinical results were shared for tolimidone's beta cell proliferation potential. Despite this, Biodexa plans to proceed with an in vivo study and a Phase 2a study in Type 1 diabetes patients. BDRX shares fell 9.08% to $1.40.
February 23, 2024 | 4:18 pm
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Biodexa Pharmaceuticals announced mixed R&D updates, including promising Phase 1 results for MTX110 in DMG treatment and inconclusive preclinical results for tolimidone. Shares dropped 9.08% to $1.40.
The announcement of mixed R&D updates, particularly the inconclusive results for tolimidone, likely contributed to the negative investor sentiment, leading to a 9.08% drop in BDRX shares. The promising results of MTX110 in DMG treatment may not have been enough to offset concerns over the tolimidone study's inconclusiveness. The stock's short-term impact is negative due to the immediate price action response.
CONFIDENCE 85
IMPORTANCE 90
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