Shares of Redx Pharma (LON: REDX) have edged higher Monday after it announced the first patient has been dosed in the monotherapy arm of its Phase 2 clinical trial of its investigational drug RXC004.
The drug is a potential treatment being developed as a targeted therapy for Wnt-ligand driven cancer.Â
Also Read: The Best Healthcare Stocks to Buy
Redx Pharma shares are currently down 3.67%.
The multi-centre Phase 2 clinical trial will assess the preliminary efficacy and safety of RXC004 in genetically-selected patients.
The company expects to report topline data in the first half of 2023. Meanwhile, a second arm of the trial is scheduled to commence in the first half of 2022.
Lisa Anson, CEO of Redx Pharma, added: “We are excited to be dosing patients in Redx's first ever Phase 2 clinical trial of a wholly-owned drug candidate, an important corporate milestone. Our encouraging Phase 1 results, recently reported at the ESMO Congress, combined with our preclinical data, strongly support the hypothesis that patients with Wnt-ligand driven tumours could benefit from RXC004.”
Should you invest in Redx Pharma shares?
Redx Pharma shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are REDX shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies