NEW YORK - Tiziana Life Sciences Ltd (NASDAQ:TLSA), a biotechnology firm, has announced positive study results for its product foralumab, an intranasal drug aimed at treating a challenging form of multiple sclerosis (MS). The study, presented at the American Academy of Neurology's Annual Meeting, revealed that foralumab may reduce microglial activation in patients with non-active secondary progressive MS (na-SPMS) and progression independent of relapse (PIRA).
The research, led by Dr. Tarun Singhal of Brigham and Women's Hospital and Harvard Medical School, utilized positron emission tomography (PET) imaging to measure the effects of foralumab on microglial activation, a key factor in MS progression. The open-label study, based on data from an Expanded-Access Program, indicated that after 3 and 6 months of treatment, 83% of the participants showed a qualitative reduction in microglial activation across multiple brain regions.
PIRA represents a significant unmet need in MS treatment, as there are currently no approved disease-modifying therapies for this patient group. Foralumab, the only fully human anti-CD3 monoclonal antibody, binds to the T cell receptor to modulate T cell function and dampen inflammation. This approach differs from existing treatments and could potentially offer a new avenue for managing neuroinflammatory and neurodegenerative diseases.
Tiziana's intranasal foralumab Phase 2 trial for non-active SPMS began patient screening in November 2023. The company's nasal drug delivery technology aims to improve efficacy and safety compared to intravenous administration. The study's findings, while preliminary, suggest foralumab could be a promising treatment for PIRA in MS patients.
This article is based on a press release statement.
InvestingPro Insights
Tiziana Life Sciences Ltd (NASDAQ:TLSA) has been in the spotlight with its recent announcement of positive study results for its MS drug foralumab. While the medical community watches the company's progress, investors are also keeping a close eye on Tiziana's financial health and stock performance. Here are some insights based on real-time data and InvestingPro Tips:
InvestingPro Data shows a challenging financial landscape for Tiziana, with an adjusted market capitalization of $64.2 million and a negative adjusted P/E ratio over the last twelve months as of Q2 2023, standing at -3.41. The company's operating income during the same period was reported at -$18.77 million, reflecting the high costs associated with research and development in the biotech industry.
On the stock performance side, Tiziana's shares have experienced significant volatility. The 1-week price total return as of April 2024 shows a remarkable surge of 45.45%, while the 1-month return also impresses at 30.61%. These short-term gains contrast with a 1-year price total return of -45.3%, highlighting the speculative nature of biotech investments.
InvestingPro Tips reveal that management has been aggressively buying back shares, which could indicate confidence in the company's future. Additionally, the company holds more cash than debt on its balance sheet, suggesting a degree of financial resilience. However, analysts are cautious, as they do not anticipate the company will be profitable this year, and net income is expected to drop. It's also worth noting that Tiziana does not pay dividends, which is common for growth-focused biotech firms.
Investors interested in a deeper dive into Tiziana's financials and stock performance can find additional InvestingPro Tips by visiting https://www.investing.com/pro/TLSA. With more than 10 InvestingPro Tips available, users can gain extensive insights into the company's prospects. To get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, use the coupon code PRONEWS24.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.