The company will make two presentations on SNS01T for blood-borne cancer care at the 55th American Society of Hematology (ASH) Annual Meeting and Exposition to be held from December 7-10. It will provide an update on the current results of the Phase 1b/2a trial. It will also make an oral presentation of new results with SNS01-T in non-clinical studies. The abstracts to be presented include “Phase 1b/2a Open-Label, Multiple-Dose, Dose-Escalation Study To Evaluate The Safety and Tolerability Of Intravenous Infusion Of SNS01-T In Patients With Relapsed Or Refractory Multiple Myeloma, Mantle Cell Lymphoma, Or Diffuse Large B Cell Lymphoma" and "SNS01-T Exhibits Significant Anti-Tumoral Activity In Models Of Multiple Myeloma and Non-Hodgkins B Cell Lymphoma and Induces Cell Death In Malignant But Not Normal B Cells". The company has been in the news recently mainly because of the expected declaration of the cohort 3 trials. The update in the first week of December and detailed results could be an important trigger for the stock. The stock has shown some signs of a rebound, and it will show strength in case the update / results come in better than expected on the safety & efficacy fronts. The results so far have been encouraging, but they need to be confirmed at higher dosages. Tolerance at higher doses is critical to the usability of the drug. Some analysts have pointed out that the stock is undervalued compared to other development stage companies. The Chairman and one Director has put in money at $26 which is more than 5 times the current market price. Chairman Waksal would not have put in money in the company without being confident about the prospects of SNS01T. The update in early December could provide a trigger for the short term. Long term movement will depend on the company's ability to find funds to support the further trials, and, obviously, the results.
