COPENHAGEN - Curasight A/S (CPH:CURAS) announced Wednesday that its phase 1 trial investigating uTREAT in glioblastoma, an aggressive form of brain cancer, is now open for patient enrollment following regulatory and ethical committee approvals. The company, currently valued at 45.46 million USD with a share price of 0.99 USD, has seen its stock surge 14.7% over the past week as investors react to this development.
The company expects to dose the first patient in the coming weeks, marking the first clinical trial investigation of uTREAT, according to the press release statement. The study will evaluate uTREAT as a targeted radiopharmaceutical therapy in patients with newly diagnosed verified or suspected glioblastoma. With earnings scheduled for November 27, investors are closely watching this clinical milestone. InvestingPro analysis indicates the company holds more cash than debt and maintains a current ratio of 2.65, providing financial flexibility to advance its clinical programs.
"There is a high unmet medical need for new treatments for brain cancer," said Curasight's CEO, Ulrich Krasilnikoff.
The trial represents advancement in Curasight's theranostic approach, which combines two technologies targeting the uPAR receptor: uTRACE for diagnosis and uTREAT for treatment. The company stated that previous clinical studies with the ligand forming the backbone of uTRACE demonstrated that nearly all glioblastoma patients (94%) express uPAR on tumors.
Glioblastoma affects approximately 30,000 patients annually in the US and EU, with a poor prognosis - about 50% of patients die within 14 months of diagnosis, and only 5% survive five years, according to information provided in the company's announcement. Despite targeting this significant market opportunity, InvestingPro data shows Curasight is not yet profitable, with a diluted EPS of -0.20 USD over the last twelve months. However, the stock has shown strong momentum with a 50.23% price return over the past six months, suggesting investor optimism about the company's clinical progress.
The company suggests uTREAT could potentially replace or reduce external beam radiation, possibly lowering side effects to healthy brain tissue through more specific tumor targeting. While analysts do not anticipate profitability this year according to InvestingPro data, the company's innovative approach has contributed to its current trading at a high Price/Book multiple of 9.69. Investors seeking deeper insights into Curasight's financial health and growth prospects can access additional ProTips and comprehensive metrics through an InvestingPro subscription.
In other recent news, Curasight A/S announced that the European Medicines Agency has approved its clinical trial application for uTREAT, a targeted radiopharmaceutical therapy for glioblastoma. This approval marks the beginning of a Phase 1 study, which is the first clinical investigation of Curasight's treatment platform. The trial will focus on patients newly diagnosed with glioblastoma, an aggressive form of brain cancer. Curasight anticipates dosing the first patient before the end of 2025. These developments are significant as they represent a critical step forward in the company's efforts to explore new treatment options for brain cancer.
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