With Cash In Hand, Focus For MabVax Turns To The Clinical Program

TM editors' note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.

This morning, MabVax Therapeutics (NASDAQ: MBVX) closed a public offering of $4.1 million in cash. The company offered 1.343 million shares. The offering took place at $1.75 per share. Both OPKO Health, Inc. (NYSE: OPK) and Dr. Phillip Frost, CEO and Chairman of OPKO Health, Inc. participated in the offering. Earlier in May, the company sold the equivalent of 0.486 million shares to certain investors to raise $850,000 in capital. In total, MabVax brought in just shy of $5 million in gross proceeds over the past week. I expect the company to use this new cash to aggressively advance its clinical pipeline.

As noted in the past, I'm particularly optimistic about MVT-1075. A Phase 1 clinical study with MVT-1075 is listed on ClinicalTrials.gov as active, but not yet recruiting (NCT03118349). Below is a quick review of MVT-1075 and what to expect from MabVax over the next few months.

Quick Background

MabVax's proprietary monoclonal antibody (mAb) product candidates are designed to elicit an immune response to highly specific antigens found almost exclusively on cancer cells. The company’s lead antibody candidate, HuMab-5B1, targets CA19-9 positive tumors.

The initial focus is on pancreatic cancer, a logical approach because CA19-9 is the most frequently utilized and only validated serum market for assessment of pancreatic cancers. The CA19-9 antigen facilitates tumor proliferation, invasion, and metastatic spread (1). High serum levels correlate with poor prognosis (2). Importantly, it is found in up to 92% of pancreatic ductal adenocarcinomas (3) and is present in high copy number on cancer cells (4), thus making it an attractive molecular target.

The company is taking advantage of HuMab-5B1's high specificity and minimal off-target binding to develop the drug via multiple pathways: as a therapeutic (MVT-5873), a PET-imaging agent (MVT-2163), and a radioimmunotherapy (MVT-1075) for patients with pancreatic cancer.

1 2 3 4
View single page >> |

Disclosure: Please see important information about BioNap and our relationship with MTNB in our Disclaimer. ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.