Home Trending Stocks Can-Fite BioPharma Inc. (CANF) stock soars during current market. Why so?

Can-Fite BioPharma Inc. (CANF) stock soars during current market. Why so?

Can-Fite BioPharma Inc. (NASDAQ: CANF) stock gained by 4.42% in the current market trading session. Can-Fite BioPharma Ltd. is a medication research company in advanced clinical stages with a platform technology targeted to address multi-billion dollar markets in cancer, liver, inflammatory illness, and COVID-19.

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What’s new?

Can-Fite BioPharma, a biotechnology company located in Israel, is developing a stream of proprietary small-molecule drugs to cure inflammatory, cancer, and liver illnesses, and has received approval from the Israeli Ministry of Health to start a Phase IIb research of its drug candidate Namodenoson in the therapy of NASH.


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Can-Fite CEO Dr. Pnina Fishman commented,

The Israeli Ministry of Health has given CANF permission to proceed with their Phase IIb NASH trial, which they are extremely excited about. Namodenoson, according to CANF, might be a safe and effective therapy for NASH. CANF’s long-term objective is to lessen the need for liver transplants while also improving patients’ quality of life and extending their lives.

NASH is an unfulfilled medical need, as there is no FDA-approved treatment for the illness in the United States. The National Institutes of Health estimated the prevalence of NASH in the United States to be between 2% and 5% of the population in 2016. Because of increased obesity rates, NASH is becoming more common, and the pharmaceutical market for NASH is expected to reach $40 billion by 2025.

Furthermore,

Can-Fite plans to begin patient enrollment as early as the third quarter, about three months ahead of schedule. Its prior study demonstrated anti-steatotic, anti-inflammatory, and anti-fibrotic benefits in the treatment of NASH.

In participants with biopsy-confirmed NASH, the Phase IIb trial will be a multicenter, randomized, double-blind, placebo-controlled research. For 36 weeks, eligible individuals will be randomly randomized to receive oral Namodenoson every 12 hours or a matched placebo every 12 hours in a 2-to-1 ratio.

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The trial’s main goal is to compare the effectiveness of Namodenoson to placebo in 140 people with NASH, as measured by the proportion of people who enhance their nonalcoholic fatty liver disease activity score by more than or equal to two points. This would be the current gold standard for assessing drug activity in this group.

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