Ascelia Pharma: Update on timeline and funding on Orviglance re-evaluation.
Ascelia Pharma: Update on timeline and funding on Orviglance re-evaluation.
Shares in Ascelia Pharma gained almost 30 percent yesterday following the release of the pre-notified mid-September update regarding the timelines and financial implications of the re-evaluation of the SPARKLE images.
According to the announcement Ascelia Pharma now expects the re-evaluation of the images collected in the SPARKLE study to be finished in May 2024. Importantly, following the recently announced cost-reduction program, Ascelia Pharma also expects that the company’s current funding is now sufficient to finish the SPARKLE study.
This is probably the main reason shares surged yesterday. To further protect its financial situation, Ascelia Pharma will also consider expanding its commercialization strategy to include launching Orviglance in US with a partner which will likely also lower and postpone the need to raise capital.
Read full announcement here: https://www.ascelia.com/mfn_news/ascelia-pharma-to-reach-headline-results-from-sparkle-re-evaluation-by-may-2024-with-current-funding/
Disclaimer:
HC Andersen Capital receives payment from Ascelia for a Digital IR/Corporate Visibility subscription agreement. /Claus Thestrup 8:30 AM 14-09-2023.
Ascelia Pharma er et svensk biotek selskab med fokus på behandling af sjældne kræftsygedomme. De udvikler og markedsfører nye lægemidler, hvor der er behov for bedre behandlingsmuligheder eller hvor der ikke findes muligheder for behandling i dag, og de har en klar go-to-market strategi. Ascelia Pharma har to kandidater i pipelinen, Orviglance og Oncoral. Orviglance er et nyt kontrastmiddel til MR-scanning, og udviklet til at forbedre opdagelsen og visualiseringen af fokale leverlæsioner(Inklusiv levermetastaser – og primære tumorer) hos patienter med nedsat lever funktion. Oncoral er en tablet med en potent anti-tumor effekt, der indtages på daglig basis. Oncoral har vist god effekt ved kræftformer der er svære at behandle, og en bedre virkning/bivirkningsprofil for patienten sammenlignet med intravenøs behandlinger med høj dose udført på et hospital. Ascelia Pharma er noteret på Nasdaq Small Cap Stockholm med ticker ACE.
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