Recce Pharmaceuticals Ltd (ASX: RCE) shares are on the move in mid-afternoon trade. This comes after the company announced the inclusion of Recce 327 into the Australian New Zealand Clinical Trial Registry (ANZCTR).
At the time of writing, the Recce share price is swapping hands for $1.255, up 6.36%.
The Recce share price is responding positively after the biotech company advised that its lead compound, Recce 327, has been registered in the ANZCTR for its phase I/II topical burns study in humans. The Recce 327 topical antibiotic therapy will seek to treat infected burn wounds in adults.
Established in 2005, ANZCTR is an online public registry of clinical trials being undertaken domestically and abroad. The purpose of the organisation is to improve research transparency, making all details of the trial publicly available. In addition, public awareness can facilitate increased trial participation, avoid duplication of similar studies, identify research areas, and promote collaboration.
ANZCTR consists of a variety of trials such as pharmaceuticals, surgical procedures, preventive measures, treatment and rehabilitation strategies, and more. Notably, registration with ANZCTR is one of the final administrative checkpoints for clinical trials to commence.
The upcoming phase I/II topical burns study will assess the safety and efficacy of Recce 327 from 30 recruits. Over 2 weeks, 10 patients will receive Recce 327 on a daily basis. The other remaining participants will receive the Recce 327 three times per week.
The company stated that it will update shareholders as the trial progresses.
Recce share price review
Recce is involved in the advancement of synthetic antibodies designed to address the global health challenge of antibiotic-resistant superbugs. The medical company’s flagship drug, Recce 327 is being developed to treat blood infections and sepsis.
The group operates solely in research and development and is located in both Australia and the United States.
In the past 12 months, the Recce share price has stormed more than 280% higher and is around 15% up year to date. The company’s shares hit a record high of $1.875 in August 2020 on the back of positive investor sentiment.
Based on the current share price, Recce has a market capitalisation of roughly $221.5 million, with 173.7 million shares outstanding.