Aslan Pharmaceuticals (ASLN) announced Thursday night that new preclinical data characterizing ASLAN003 as a potential treatment for acute myeloid leukemia has been published in the November issue of Haematologica Journal.

"The findings support ASLAN003's potential as a potent human dihydroorotate dehydrogenase inhibitor and novel target for differentiation therapy with a favourable toxicity profile," the company said in a statement.

In the study, ASLAN003 was shown to inhibit protein synthesis and induce differentiation of AML cell lines via activation of AP-1 transcription factors, it added. The study also confirmed that ASLAN003-meditated AP-1 activation is important for the reversal of the blocked differentiation of AML cells, according to Aslan. The company recently completed a phase 2a study of ASLAN003 in AML "and is reviewing future development plans."

Shares of Aslan Pharmaceuticals are up 186%, or 82c, to $1.26 in early Friday trading.