CohBar (CWBR) off 34% on P1 injection site reactions for their lead program:
>>CohBar Provides Update on CB4211 Clinical Trial
9:00 am ET November 5, 2018 (Globe Newswire) Print
CB4211 Phase 1 Clinical Trial Temporarily Suspended to Address Injection Site Reactions
Will Host Conference Call on November 6, 2018 at 11:00 a.m. Eastern Time
CohBar, Inc. (NASDAQ: CWBR), a clinical stage biotechnology company developing mitochondria based therapeutics (MBTs) to treat age-related diseases, announced today the Phase 1 clinical study of CB4211, its lead MBT candidate under development as a potential treatment for non-alcoholic steatohepatitis (NASH) and obesity, has been temporarily suspended in order to address mild injection site reactions that have been unexpectedly persistent.
"Patient safety is very important to us and is also the primary objective of our CB4211 Phase 1 clinical trial," said Simon Allen, CohBar CEO. "While only mild adverse events have occurred in the study to date, we are taking the time to address these injection site reactions in order to reduce the risk of any safety or tolerability issues in the trial going forward. We continue to believe in the potential of this novel compound as a treatment for NASH and obesity, and the timely resolution of this issue is our top priority."
"Mild injection site reactions are common in Phase 1 clinical studies of subcutaneously injected peptide drugs, and for most drugs they resolve quickly," said Kenneth C. Cundy, PhD., CohBar CSO. "In general, what we have seen are persistent painless bumps that can be felt under the skin and in most cases would be otherwise undetectable. Information to date suggests that some of the CB4211 dose persists at the injection site. We have a plan to address this issue in the near term and are seeking regulatory feedback with the goal of resuming the clinical dosing of CB4211 as soon as possible."<<
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I was following this company, but have no position. Can't say I have an investment thesis until we hear about the timing and nature of their plan. However, they don't have gobs of cash, and may have to raise before they can get back on track. Hard to say at this point if the situation is more than priced in. Tempted, but resisting temptation.
Cheers, Tuck |
