COPENHAGEN - Ascendis Pharma A/S (NASDAQ:ASND) today shared initial data from its ongoing Phase 1/2 IL-Believe Trial, indicating that TransCon IL-2 β/γ, when used with chemotherapy, shows signs of clinical activity in patients with platinum-resistant ovarian cancer (PROC). The data, presented at the European Society of Medical Oncology's annual meeting, reveals that 29% of efficacy-evaluable patients experienced anti-tumor responses.
The trial included 18 patients with a median age of 64 years, out of which 14 were considered efficacy evaluable. These patients had undergone multiple prior lines of treatment, including therapies that had ceased to be effective. The observed anti-tumor responses consisted of 2 confirmed and 2 unconfirmed partial responses.
In terms of safety, TransCon IL-2 β/γ was generally well-tolerated, with the most common adverse events being fatigue, thrombocytopenia, neutropenia, and anemia, primarily categorized as grade 1 or 2. These findings build upon earlier positive results from the same trial in melanoma patients, indicating the potential versatility of TransCon IL-2 β/γ in treating different types of cancer.
TransCon IL-2 β/γ is a novel prodrug that releases an IL-2Rβ/γ-selective IL-2 analogue in a controlled, sustained manner, aiming to improve the therapeutic index by reducing peak plasma levels and extending the half-life of the drug.
The Phase 1/2 trial is ongoing, enrolling adult patients with advanced or metastatic solid tumors who have seen disease progression within six months after completing platinum-based chemotherapy. The PROC cohort received the recommended Phase 2 dose of 120 μg/kg every three weeks alongside a chemotherapy regimen chosen by their physician.
Ascendis Pharma, headquartered in Copenhagen and with facilities in Europe and the United States, focuses on applying its TransCon technology to develop new therapies that could potentially improve patient outcomes.
The information in this article is based on a press release statement from Ascendis Pharma.
InvestingPro Insights
As Ascendis Pharma (NASDAQ:ASND) continues to explore the potential of TransCon IL-2 β/γ in treating platinum-resistant ovarian cancer, investors and stakeholders are closely monitoring the company's performance and market standing. According to real-time data from InvestingPro, Ascendis Pharma has a market capitalization of $6.53 billion, reflecting the size and scale of the company within the biopharmaceutical industry.
InvestingPro Tips highlight that Ascendis Pharma's stock is currently in oversold territory based on the Relative Strength Index (RSI), indicating that the stock may be undervalued or due for a rebound. This could be of particular interest to investors looking for entry points in the market. Additionally, it's important to note that analysts have revised their earnings expectations downwards for the upcoming period, suggesting potential challenges ahead that could impact the stock's performance.
In terms of financial metrics, the company's revenue for the last twelve months as of Q2 2024 stands at $340.25 million, with a significant growth rate of 166.54% over the same period. This substantial revenue growth underscores the company's ability to generate income, which could be a positive sign for investors. However, it's worth noting that Ascendis Pharma is not profitable over the last twelve months, and analysts do not anticipate the company will be profitable this year, which may raise concerns about the company's near-term financial outlook.
For a more comprehensive analysis and additional InvestingPro Tips for Ascendis Pharma, investors can visit https://www.investing.com/pro/ASND, where over nine tips are available to help inform investment decisions.
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