The Telix Pharmaceuticals Ltd (ASX: TLX) share price has the wobbles today after the company shared news of a successful trial.
The biopharmaceutical company announced that its kidney cancer imaging product's Japanese clinical study met all objectives for its first phase.
The Telix share price plummeted from its opening price of $3.96 to an intraday low of $3.87, before gaining – and losing – ground through the morning trade. At the time of writing, Telix shares are down 0.51%, trading at $3.89.
Let's take a closer look at the news driving the Telix share price today.
Successful study
Today, Telix shared news that its clinical study, Zirconium Dosing and Comparison in Japan (ZIRDAC-JP), has proven successful. The study met its objectives of positively measuring the safety, tolerability, required radiation dosage, and movement within the body of its TLX250-CDx.
TLX250-CDx is an imaging radiopharmaceutical for the imaging of clear cell renal cell carcinoma (ccRCC), the most aggressive form of kidney cancer. ccRCC makes up 70% to 85% of all kidney cancers. According to Telix, TLX250-CDx targets a cell-surface antigen called Carbonic Anhydrase IX.
The company states that many patients are diagnosed with a renal mass, and TLX250-CDx is able to determine whether they are cancerous in a non-invasive inspection.
Phase 1 of the study was completed at Yokohama City University Hospital. There, six patients with an unspecified renal mass underwent dosing with TLX250-CDx, followed by positron emission tomography imaging.
All 6 patients completed the study with no adverse events. The whole-body and organ-specific radiation dosage needed for TLX250-CDx showed no difference between Japanese and Caucasian patients.
Commentary from management
Telix chief medical officer Dr Colin Hayward said the company was encouraged by the study's results:
We now plan to consult with the Japanese regulator to confirm the design of the next stage of development for TLX250-CDx, with the objective of bridging to Telix's international Phase III ZIRCON study, currently enrolling patients at 36 sites globally.
Telix pharmaceuticals share price snapshot
If investors embrace today's news, the Telix share price may break into the ASX 2021 green.
Currrently, the Telix share price is down 2.9% year to date, although it's up a whopping 238% over the last 12 months.
The company has a market capitalisation of around $1 billion, with approximately 281 million shares outstanding.
