Biodexa Shares Soar 128% on Positive Phase 2 Results in Rare Disease Trial

Shares in Biodexa Pharmaceuticals (Nasdaq: BDRX) soared 128% on Tuesday after the company reported positive Phase 2 clinical trial results from its newly licenses eRapa™ in Familial Adenomatous Polyposis (FAP) at the 2024 Digestive Disease Week Annual Meeting. The company topped the PRISM Emerging Pharmaceuticals Index throughout Tuesday’s trading session.

In April 2024, Biodexa entered into a definitive agreement with Emtora Biosciences, Inc. for an exclusive, worldwide license to develop, manufacture and commercialize eRapa. eRapa is a proprietary oral tablet formulation of rapamycin, also known as sirolimus.

FAP is a rare, inherited cancer predisposition syndrome condition characterized by the growth of hundreds to thousands of polyps in the gastrointestinal (GI) tract. It affects men and women equally and, if left untreated, affected individuals are at high risk of developing colorectal cancer. FAP accounts for approximately 1% of colorectal cancer cases.

The Phase 2 open-label study, which was conducted in seven U.S. centers of excellence in 30 adult patients. The study demonstrated an 83% non-progression rate at six months, a statistically significant decrease in overall mean polyp burden at 6 months and eRapa appeared to be safe and well-tolerated.

The study was partially supported by $20 million in grant funding from the Cancer Prevention and Research Institute of Texas under product development awards DP22053 and DP190069.

Digestive Disease Week (DDW) is the premier meeting for professionals working in gastroenterology, hepatology, GI endoscopy, gastrointestinal surgery and related fields. The 2024 meeting is taking place from May 18-21 in Washington, D.C.

About Biodexa Pharmaceuticals PLC

Biodexa Pharmaceuticals PLC (listed on NASDAQ: BDRX) is a clinical stage biopharmaceutical company developing a pipeline of innovative products for the treatment of diseases with unmet medical needs. The Company’s lead development programs include eRapa, under development for Familial Adenomatous Polyposis and Non Muscle Invasive Bladder Cancer: tolimidone, under development as a for the treatment of type 1 diabetes; and MTX110, which is being studied in aggressive rare/orphan brain cancer indications. Biodexa is supported by three proprietary drug delivery technologies focused on improving the bio-delivery and bio-distribution of medicines. Biodexa’s headquarters and R&D facility is in Cardiff, UK. For more information visit www.biodexapharma.com.

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Biodexa Shares Soar 128% on Positive Phase 2 Results in Rare Disease Trial

Catie Corcoran

Biotech Editor