Shares of Actuate Therapeutics, Inc. Common stock (ACTU) are gaining over 3% on Tuesday morning after the company announced positive interim phase 2 data of Elraglusib in first line treatment of metastatic pancreatic cancer.
ACTU is currently trading at $8.96, up $0.27 or 3.08%, on the Nasdaq. The stock opened its trading at $9.90 after closing Monday at $8.69. The stock has traded between $5.51 and $10.16 in the past 52-week period.
The analysis of interim data demonstrated treatment with elraglusib in combination with GnP resulted in statistically significant increases in 1-year survival rate and median overall survival versus treatment with GnP alone.
The combination treatment also resulted in increased Objective Response Rates (ORR) and Disease Control Rates (DCR) in the elraglusib/GnP combination arm versus the GnP control arm.
"These interim results are highly encouraging and underscore the transformative potential of elraglusib in the treatment of metastatic pancreatic cancer," said Daniel Schmitt, President & Chief Executive Officer of Actuate. "The improvement in median and overall long-term survival, disease control rate and overall response rate compared to GnP alone, combined with elraglusib's favorable risk-benefit profile, offers the possibility of improved outcomes for patients with limited treatment alternatives. We are excited to continue evaluating the potential of elraglusib, a novel immune-oncology GSK-3 targeted approach for mPDAC, and look forward to engaging with the FDA in 1H 2025 to share topline data and discuss next steps, including a proposed phase 3 registration trial."
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