By Michael Susin

 

NetScientific PLC shares rose on Monday after the company said that its portfolio company PDS Biotechnology Corp. has successfully completed an end-of-Phase-2 meeting with the U.S. Food and Drug Administration regarding the combination of its treatment with Merck & Co.'s therapy for papillomavirus carcinoma.

Shares at 1307 GMT were up 0.05 pence, or 13%, at 0.5 pence.

The life-sciences and technology investment company said that PDS has received guidance from FDA on key elements to submit a biologics license application for its PDS0101 asset treatment.

The end-of-Phase-2 meeting was to determine the safety of proceeding to the last phase of the study and identify any additional information necessary to support a marketing application for the uses under investigation.

The combined therapies are targeting the treatment of unresectable, recurrent and metastatic human-papillomavirus-16-positive head-and-neck squamous-cell carcinoma, the company added.

"We are pleased with PDS's continued and systematic progress on its business objectives, despite unfavorable capital markets conditions. Building on momentum from the FDA Fast Track designation in June 2022, and the subsequent $35 million venture debt facility in August 2022, PDS is now well positioned for further progress in its PDS0101 clinical program." Chief Executive Officer Dr. Ilian Iliev said.

 

Write to Michael Susin at michael.susin@wsj.com

 

(END) Dow Jones Newswires

October 03, 2022 09:55 ET (13:55 GMT)

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