Here's why the Amplia (ASX:ATX) share price is up 9% today

The Amplia Therapeutics Ltd (ASX: ATX) share price is running 9% higher today following progress on its AM945 inhibitor. Here's the details.

| More on:
woman in lab coat conducting testing representing biotech

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Amplia Therapeutics Ltd (ASX: ATX) share price is running higher today following the initiation of a multiple-dose study using AM945.

During late-morning trade, shares in the Australian pharmaceutical company are up 7% to 29 cents.

Amplia is an Australian pharmaceutical company. The company is focusing on the development of Focal Adhesion Kinase (FAK) inhibitors for cancer and fibrosis. It's lead novel oral molecule, AMP945, is a "pure-play" inhibitor. This targets the formation of scar tissue (fibrosis) both in cancer and diseases such as idiopathic pulmonary fibrosis.

AMP945 is aimed at blocking FAK's activity which lessens scar tissue. Thus, AMP945 allows cancer treatments to be more effective without fibrosis.

What did Amplia announce?

The Amplia share price is on the move today. This comes after the report that it has progressed in the development of its novel inhibitor.

According to its release, Amplia advised that it has commenced a multiple ascending dose (MAD) study in its phase 1 clinical trial of AMP945. The decision to advance the FAK inhibitor was based on the positive results seen to date.

Amplia stated that during phase 1 trial, healthy volunteers undertook a single ascending dose (SAD) of AMP945. Patients were carefully monitored to gain a better understanding of the safety and tolerability parameters. As the initial study nears completion, it was revealed that no health issues were identified regarding the SAD administered to volunteers.

In light of the positive developments, Amplia decided to begin a MAD study involving 3 cohorts of subjects. The first lot of patients will be receiving their doses sometime this week. Different amounts will be administered to each group. The MAD study will run for a period of 7 days.

The data from both the SAD and MAD studies will help Amplia establish the desired dose of AMP945. This will be important for its future phase 2 clinical trial. Amplia is expecting that phase 2 will be commencing at the end of the 2021 calendar year.

Additionally, Amplia noted that it was also studying the impact of food on the absorption of AMP945. Amplia is currently analysing results after the separate trial concluded last month.

Words from the CEO

Amplia CEO, John Lambert, welcomed the company's progress, saying:

We are delighted that we have been able to advance AMP945 into our MAD study on the basis of the positive data seen so far in the SAD study. AMP945 is a very specific inhibitor of the FAK enzyme and has very little off-target activity. The excellent safety profile that we have seen in our SAD study to date is consistent with data from our preceding non-clinical studies.

We are very encouraged by the data that we have seen from the trial so far and look forward to reporting headline results from this Phase 1 clinical trial in Q2 2021.

About the Amplia share price

In the past 12 months, the Amplia shares have risen close to 200% reflecting positive investor sentiment. During March, its shares dipped to a 52-week low of 4.5 cents before storming higher to 37 cents in October.

Swapping hands for 29 cents today, the company's shares are only 25% away from its multi-year high.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Opinions

2 ASX shares I have been buying in 2024!

I’m a believer in the long-term outlook of these stocks.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

a young boy dressed up in a business suit and tie has a cute grin and holds two fingers up.
Opinions

2 of my top ASX 200 shares to consider buying before April

I would happily exchange dollars for these two shares right now.

Read more »