Evgen Pharma plc (LON:EVG), the clinical stage drug development company focused on the treatment of cancer and neurological conditions, announced today its final results for the year ended 31 March 2017.
Highlights
* First patient dosed in the ongoing SAS (SFX-01 After Subarachnoid Haemorrhage) Phase II clinical study
* First patient dosed in the ongoing STEM (SFX-01 in the Treatment and Evaluation of Metastatic Breast Cancer) Phase IIa clinical study
* Orphan drug designation granted by the US Food & Drug Administration for the use of stabilised sulforaphane in subarachnoid haemorrhage (“SAH”)
* Positive data from preclinical studies of SFX-01 in various models of the relapsing remitting form of multiple sclerosis (“MS”) presented at leading MS conference
* Additional patents granted over manufacturing processes for SFX-01
* Recently, and subsequent to the period, the first patient to enter the STEM trial has now been accepted onto the compassionate use programme, having demonstrated no disease progression during the trial
* Financial performance in line with expectations:
– Total comprehensive loss of £3.1m (2016: loss of £3.1m)
– Net cash outflow (before short-term investment movements) of £3.3m (2016: inflow of £6.9m)
– Cash and short term investments and cash on deposit at 31 March 2017 of £3.9m (31 March 2016: £7.1m)
Dr Stephen Franklin, Chief Executive Officer of Evgen Pharma plc, said: “We are very pleased to have progressed our SFX-01 product candidate into two phase II clinical trials: in breast cancer and in subarachnoid haemorrhage. This is a significant step for Evgen Pharma, and for sulforaphane-based science.
“The increasing body of evidence that sulforaphane has broad therapeutic potential, combined with our expanding IP portfolio over technology for manufacturing sulforaphane-based drugs at commercial scale, gives Evgen Pharma confidence in its clinical strategy.”
