The Race Oncology Ltd (ASX: RAC) share price is swinging from losses to gains to losses again. At time of writing, shares in the ASX healthcare company have slipped below yesterday's closing price, trading down 0.29% at $3.38.
We take a look at Race Oncology's Leukemia clinical trial update below.
What did Race announce?
The Race Oncology share price is seeking direction after the company reported the first patient has been dosed in its "Phase 1b/2 trial in relapsed/refractory Acute Myeloid Leukaemia" trial.
The trial will use the company's Zantrene in a 3-drug combination. According to the release, this combination has demonstrated "compelling efficacy" in earlier pre-clinical studies. (See here for more.)
Professor Arnon Nagler of the Chaim Sheba Medical Center in Israel is leading the study. Nagler previously conducted the Phase 2 single agent Zantrene R/R AML trial, which demonstrated a 40% clinical response.
Acute Myeloid Leukemia (AML) remains difficult to effectively treat. According to the release, approximately "30% of adults with newly diagnosed AML fail to achieve complete remission (CR) after 2 courses of intensive chemotherapy". For patients who do achieve CR following chemotherapy, 50% of younger and 80% of older patients relapse.
Even when CR is achieved through intense chemotherapy, approximately half of the younger and 80% of the older patients, relapse.
Race Oncology commentary
Commenting on the progress, Race's chief medical officer David Fuller said:
We are delighted to see the start of this important clinical project which uses a novel combination approach for relapsed or refractory Acute Myleoid Leukaemia. This study is also an important step in our journey towards approval of Zantrene in this area of high unmet medical need.
Race's CEO Phillip Lynch added, "We hope to see improved patient outcomes in what has been historically a difficult to treat disease. We plan on using our trademarked name, Zantrene, in referring to bisantrene dihydrochloride."
The trial in Israel will run in parallel with an Australian Phase 2 trial in patients with extramedullary AML.
Race Oncology share price snapshot
Over the past 12 months the Race Oncology share price has gained 304%, well outpacing the 25% gains posted by the All Ordinaries Index (ASX: XAO) in that same time.
Year-to-date Race Oncology's share price has continued to surge, up 82% in 2021.
