NEW YORK - Indaptus Therapeutics, Inc. (NASDAQ: INDP), a biotechnology firm focused on developing therapies for cancer and viral infections, disclosed updated data from its Phase 1 clinical trial of Decoy20, an investigational treatment for patients with solid tumors. The findings were presented at the American Society of Clinical Oncology (ASCO) Annual Meeting held on June 1 in Chicago.
The trial, which involved patients in two single-dose cohorts, showed that Decoy20 was mostly cleared from the bloodstream within two hours post-dose. The treatment also induced significant immune responses, marked by the activation of dozens of cytokines and chemokines linked to innate and adaptive immunity. Moreover, the adverse events reported were generally low-grade and transient.
Dr. Roger Waltzman, Chief Medical Officer of Indaptus, stated that these results suggest Decoy20 could potentially improve the immune response against cancer and expand treatment options for patients with advanced solid tumors. The study has treated eleven patients thus far, with manageable side effects and consistent immune responses observed across different dosing levels.
Jeffrey Meckler, CEO of Indaptus, expressed confidence in the trial's progress, anticipating that the multi-dosing segment of the study will continue to demonstrate immune responses consistent with potential anti-tumor activity. Further updates on the trial are expected within the year.
The information in this article is based on a press release statement from Indaptus Therapeutics.
InvestingPro Insights
As Indaptus Therapeutics, Inc. (NASDAQ: INDP) continues to report encouraging clinical trial outcomes for its Decoy20 treatment, investors and industry observers are keeping a close eye on the company's financial health. According to InvestingPro data, Indaptus Therapeutics holds a market capitalization of 20.24 million USD, indicating a relatively small player in the biotech sector. The company's P/E ratio stands at -1.32, reflecting investor sentiment about the company's earnings potential.
While the company's clinical advancements are promising, InvestingPro Tips suggest that Indaptus faces challenges such as weak gross profit margins and expectations of a net income drop this year. Analysts also do not anticipate the company will be profitable within the current fiscal year. Nonetheless, it's notable that Indaptus has a strong liquidity position, with liquid assets exceeding short-term obligations and holding more cash than debt, which may provide some financial flexibility as it continues its research and development efforts.
Investors may also find the company's stock performance of interest. Indaptus has seen a strong return over the last month, with a 17.33% price total return, and a year-to-date price total return of 34.66%. These figures suggest that investor confidence has been bolstered, possibly due to the promising results from the clinical trials and the potential market for Decoy20.
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