Fubotv earnings beat by $0.10, revenue topped estimates
TEL AVIV - Chemomab Therapeutics, Ltd. (NASDAQ:CMMB), a biotech firm focused on fibro-inflammatory diseases with a market capitalization of $24.7 million, has reported significant findings from its Phase 2 SPRING trial of nebokitug for the treatment of primary sclerosing cholangitis (PSC). The company, which has seen its stock surge over 100% in the past year according to InvestingPro data, maintains a strong financial position with more cash than debt on its balance sheet. The data, set to be presented at the upcoming EASL 2025 congress, demonstrates that nebokitug led to dose-dependent improvements in inflammatory and fibrotic biomarkers.
The trial involved a comprehensive proteomic analysis of 3,000 circulating proteins in PSC patients. Results showed that those treated with nebokitug experienced significant changes in proteins associated with fibrosis and inflammation. Key biomarkers related to disease processes such as leukocyte migration and cytokine activity were downregulated. This supports the potential of nebokitug as a novel treatment for PSC and related conditions. With a current ratio of nearly 5x and liquid assets exceeding short-term obligations, InvestingPro analysis suggests the company is well-positioned to continue its clinical development programs. Subscribers can access 8 additional ProTips and comprehensive financial metrics to better evaluate CMMB’s investment potential.
Additionally, pharmacokinetic (PK) and pharmacodynamic data indicated that increased levels of nebokitug in the bloodstream corresponded with greater engagement with its target, CCL24. This engagement was dose-dependent and associated with decreasing levels of PSC disease biomarkers, including liver enzymes and elastography scores.
Chemomab co-founder and CEO Dr. Adi Mor emphasized the clinical potential of nebokitug, highlighting the broad impact of CCL24 neutralization observed in the study. The company is preparing for a potential Phase 3 trial of nebokitug for PSC, following positive Phase 2 results and regulatory designations from the FDA and EMA.
The findings from the SPRING trial add to the body of evidence suggesting nebokitug’s role in modulating disease-related pathways. Copies of the EASL 2025 posters will be made available on the Chemomab website upon their presentation at the congress.
This news is based on a press release statement and includes forward-looking statements that involve risks and uncertainties. Chemomab’s future plans for nebokitug are subject to regulatory approval and the outcomes of further clinical studies. Investors should note that the company’s next earnings report is scheduled for May 8, 2025. According to InvestingPro Fair Value analysis, CMMB shares currently appear undervalued, though analysts do not expect profitability this year.
In other recent news, Chemomab Therapeutics has announced positive results from a Phase 2 trial extension for nebokitug, a potential treatment for primary sclerosing cholangitis (PSC). The Open Label Extension of the SPRING trial showed continued improvement in key liver biomarkers after 48 weeks of treatment, confirming nebokitug’s safety and tolerability. The results also indicated a lower number of clinical events among participants, suggesting a potential reduction in disease progression risk. Furthermore, Chemomab has aligned with the FDA on a Phase 3 trial design for nebokitug, which could become the first FDA-approved treatment for PSC. This upcoming trial will focus on clinical events instead of requiring liver biopsies, potentially accelerating regulatory approval. The trial is set to include approximately 350 PSC patients and will assess time-to-first-event for PSC clinical events. Dr. Adi Mor, CEO of Chemomab, highlighted the importance of these developments, noting the potential disease-modifying activity of nebokitug. The company is also in discussions with potential strategic partners as it prepares for the Phase 3 trial.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.