Can Fite BioPharma Ltd (CANF)

[midastouch017]

Can-Fite up 6% premarket on planned IND for pancreatic cancer candidate

Jun. 13, 2023 8:01 AM ETCan-Fite BioPharma Ltd. (CANF)

By: Jonathan Block, SA News Editor

Can-Fite BioPharma (NYSE:CANF) said it is preparing to submit an Investigational New Drug (IND) application to the US FDA for its pancreatic cancer candidate namodenoson.

The Israeli biotech's stock is up 6% in premarket trading.

With the submission, the company will begin an open-label phase 2 trial of namodenoson in pancreatic cancer patients who have been on at least one prior therapy.

Can-Fite (CANF) is also enrolling patients in a phase 3 trial of namodenoson for hepatocellular carcinoma.

Seeking Alpha's Quant Rating views the company as a strong sell.