Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

TICKERS: CANF

Israeli Biopharma Advances Five Drug Candidate Trials in Q2/21
Research Report

Share on Stocktwits

Source:

The progress Can-Fite BioPharma made with these studies is briefly summarized in a Dawson James Securities report.

In an Aug. 27 research note, Dawson James Securities analyst, Jason Kolbert, recapped Can-Fite BioPharma Ltd.'s (CANF:NYSE.MKT) clinical and preclinical progress during Q2/21.

As for updates on the biopharma's clinical trials, Kolbert relayed, Can-Fite achieved 75% enrollment for its Phase 3 COMFORT psoriasis study. Complete enrollment is expected soon, with release of topline results to follow in the subsequent quarter. COMFORT aims to show Can-Fite's drug candidate Piclidenoson is effective and at least comparable to apremilast (Otezla) as a treatment for moderate to severe plaque psoriasis.

Regarding Can-Fite's Phase 2 COVID-19 trial, the biopharma commenced an expansion in Israel and Europe. The plan is to add 40 patients.

During Q2/21, Can-Fite continued gearing up for its pivotal Phase 3 liver cancer study slated to commence in Q4/21. The study will evaluate another of the company's drug candidates, Namodenoson, in hepatocellular carcinoma in accordance with a protocol approved by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA).

"Should the study meet its efficacy endpoint and be approved by the FDA and EMA, Namodenoson would become one of only a few drugs available to treat advanced liver cancer patients," Kolbert wrote.

Also for liver disease, in which A3AR is overexpressed, Can-Fite has developed cannabinoid-based treatments that hold promise as a potential treatment. In Q2/21, the company filed patents to protect that intellectual property.

Regarding Can-Fite's Phase 2b study of Namodenoson in the treatment of nonalcoholic steatohepatitis (NASH), the Israeli Ministry of Health gave the green light to proceed. Thus, the trial is scheduled to start sometime in Q3/21, one quarter earlier than anticipated.

Lastly, a recent preclinical study in rats showed Can-Fite's drug candidate CF602, applied topically for erectile dysfunction, led to statistically significant improvement versus controls.

In terms of finances, Can-Fite spent $3 million ($3M) during Q2/21 and ended the quarter with $7.5M. Subsequently, in August, the company held a $10M offering.  

Dawson James has a Buy rating and a $5 per share target price on Can-Fite BioPharma, the shares of which are currently trading at about $1.87 apiece.

[NLINSERT}

Disclosures:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.  
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.  
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

Disclosures for Dawson James Securities, Can-Fite BioPharma, August 27, 2021

The Firm does not make a market in the securities of the subject Company (s). The Firm has NOT engaged in investment banking relationships with CANF in the prior twelve months, as a manager or co-manager of a public offering and has NOT received compensation resulting from those relationships. The Firm may seek compensation for investment banking services in the future from the subject Company (s). The Firm has received other compensation from the subject Company (s) in the last 12 months for services unrelated to managing or co-managing of a public offering.

Neither the research analyst(s) whose name appears on this report nor any member of his (their) household is an officer, director or advisory board member of these companies. The Firm and/or its directors and employees may own securities of the company(s) in this report and may increase or decrease holdings in the future. As of July 31, 2021, the Firm as a whole did not beneficially own 1% or more of any class of common equity securities of the subject company(s) of this report. The Firm, its officers, directors, analysts or employees may affect transactions in and have long or short positions in the securities (or options or warrants related to those securities) of the company(s) subject to this report. The Firm may affect transactions as principal or agent in those securities.

Analysts receive no direct compensation in connection with the Firm's investment banking business. All Firm employees, including the analyst(s) responsible for preparing this report, may be eligible to receive non-product or service specific monetary bonus compensation that is based upon various factors, including total revenues of the Firm and its affiliates as well as a portion of the proceeds from a broad pool of investment vehicles consisting of components of the compensation generated by investment banking activities, including but not limited to shares of stock and/or warrants, which may or may not include the securities referenced in this report.

Analyst Certification: The analyst(s) whose name appears on this research report certifies that 1) all of the views expressed in this report accurately reflect his (their) personal views about any and all of the subject securities or issuers discussed; and 2) no part of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed by the research analyst in this research report; and 3) all Dawson James employees, including the analyst(s) responsible for preparing this research report, may be eligible to receive non-product or service specific monetary bonus compensation that is based upon various factors, including total revenues of Dawson James and its affiliates as well as a portion of the proceeds from a broad pool of investment vehicles consisting of components of the compensation generated by investment banking activities, including but not limited to shares of stock and/or warrants, which may or may not include the securities referenced in this report.




Want to read more about Biotechnology / Pharmaceuticals investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe