SEATTLE - Kineta, Inc. (NASDAQ: KA), a biotechnology firm specializing in novel immunotherapies for cancer, announced today an update on its VISTA-101 Phase 1/2 clinical trial. The trial is evaluating KVA12123, an anti-VISTA monoclonal antibody, both as a standalone treatment and in combination with Merck's KEYTRUDA® (pembrolizumab) for patients with advanced solid tumors.
The interim results, presented at the American Association for Cancer Research (AACR) in San Diego, show that KVA12123 has been well-tolerated across both monotherapy and combination cohorts, with no dose-limiting toxicities or cytokine release syndrome at any dose level. The data cutoff for these findings was February 28, 2024.
In the monotherapy arm, 21 patients were enrolled, with 12 receiving at least one follow-up scan. Nine of these patients exhibited stable disease, with one non-small cell lung cancer patient maintaining stable disease for 28 weeks. Nine patients continue with the treatment.
For the combination therapy, out of nine patients enrolled, three received at least one follow-up scan. Results include one partial response in a mucoepidermoid carcinoma patient and stable disease in a renal cell carcinoma patient. Eight patients remain on-treatment.
Kineta also reported dose-dependent increases in pro-inflammatory cytokines and chemokines, and an activation of various immune cells, suggesting a positive immune response.
Despite these promising results, Kineta has suspended new patient enrollment due to financial constraints after certain investors did not meet their funding obligations. However, patients currently enrolled will continue to participate in the trial.
Kineta's Chief Scientific Officer, Thierry Guillaudeux, Ph.D., expressed optimism about the trial's progress, citing the initial clinical response data and the durability of patient benefit. KVA12123 aims to address immune suppression in the tumor microenvironment, potentially offering a new approach to managing solid tumor cancers.
This update is based on a press release statement from Kineta, Inc. and reflects the ongoing research and development efforts in the field of immunotherapy for cancer treatment.
InvestingPro Insights
As Kineta, Inc. (NASDAQ: KA) continues to advance its clinical trials for cancer immunotherapies, the financial health and stock performance of the company remain critical factors for investors. According to InvestingPro data, the company holds a market capitalization of $5.92 million, indicative of its small-cap status in the biotechnology sector.
Despite a significant revenue growth rate of 178.65% in the last twelve months as of Q1 2023, the company's gross profit margin stands at a negative 65.8%, highlighting challenges in profitability.
Investors should note that Kineta's stock has undergone substantial price volatility, with a 1-week price total return of 10.54%, but a 1-month price total return of -19.44%. This reflects the high-risk nature often associated with early-stage biotech companies.
The InvestingPro Tips for Kineta include a noteworthy mention that the company's Relative Strength Index (RSI) suggests the stock is currently in oversold territory. This could potentially signal a buying opportunity for contrarian investors or those who believe in the long-term prospects of the company's immunotherapy pipeline. However, the company is also quickly burning through cash, which is a critical consideration given its recent suspension of new patient enrollment due to financial constraints.
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