Starpharma Holdings Ltd — Encouraging HER2-Targeted DEP Conjugate Results

Encouraging HER2-targeted DEP conjugate results: Starpharma Holdings Ltd (ASX: SPL) announced the final results of the preclinical study of the HER2-targeted DEP conjugate, which achieved complete tumour regression at the last study time point of 120 days, post dosing. The results are in extension of the previously announced findings at 60 days post dosing. The conjugate also significantly outperformed all other treatment groups with respect to both tumour regression and survival. The study was conducted for the company by an internationally recognised cancer organisation as part of a wider programme. The top three antibody-based treatments in cancer had total sales in excess of USD 20 billion in 2014. Targeted therapies for cancer had combined sales in excess of USD $ 1 billion in 2014. The market is expected to grow to USD 9 billion annually by 2023. The company also released its quarterly cash flow report for the period ended 31 December 2015 and indicated that the cash balance at 31 December 2015 was $ 54.7 million compared to a cash balance of $ 26.1 million at 30 September 2015. The increase in cash for the quarter includes net proceeds of $ 30.7 million from the share placement completed in December. Proceeds from partners and grants during the quarter totalled $ 6.6 million including the R&D tax incentive or $ 3.4 million associated with the previous financial year. Like many early-stage healthcare treatment companies, this is a speculative investment and we would rate it as a Speculative Buy at the current price of $0.64 To read the complete report click here

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