The Kazia Therapeutics Ltd (ASX: KZA) share price is edging lower, down 2% in morning trade.
Below we take a look at the oncology-focused drug development company's latest clinical trial update.
What update did Kazia provide?
Kazia Therapeutics' share price is sliding despite the company reporting that a phase II study of its investigational new drug paxalisib, has commenced at Dana Farber Cancer Institute in Boston, Massachusetts.
The first patient has now enrolled in the study, which is expected to recruit up to 25 patients and take up to 2 years to complete.
Paxalisib is intended to treat primary CNS lymphoma (PCNSL). Lymphoma, a cancer of white blood cells, can spread throughout the body, while PCNSL solely afflicts the brain and central nervous system. Paxalisib belongs to the PI3K inhibitor class.
According to the release, the incidence of PCNSL has been increasing with time. The company also notes that many drugs administered to treat lymphoma in other areas of the body don't work for PCNSL, as they can't cross the blood-brain barrier.
Lakshmi Nayak, principal investigator for the study said:
Our centre has a strong research focus in primary CNS lymphoma. We are very interested to explore the potential for a brain-penetrant PI3K inhibitor in this disease. Patient outcomes in PCNSL remain far from optimal, and there is a pressing need for new treatment options.
Kazia's CEO, James Garner added:
With paxalisib now in an international pivotal study for glioblastoma, we are increasingly focused on identifying other groups of patients who may benefit from the drug. There is a very sound rationale to explore PCNSL in this disease, and we are looking forward to seeing the study progress.
Kazia said it will support the study by proving the study drug as well as a financial grant.
There are now 8 ongoing clinical studies of paxalisib in brain cancer.
Kazia Therapeutics share price snapshot
Over the past 12 months, Kazia's shares have gained 220%, well outpacing the 20% gains posted by the All Ordinaries Index (ASX: XAO).
Year-to-date the Kazia Therapeutics share price is up 5%.
