Evgen Pharma plc (LON:EVG), the clinical stage drug development company focused on the treatment of cancer and neurological conditions, has announced its final results for the year ended 31 March 2018.
§ Interim data released from ongoing STEM (SFX-01 in the Treatment and Evaluation of Metastatic Breast Cancer) Phase IIa clinical study
§ 11 new sites opened for STEM trial in Spain, France, Belgium and UK and a total of 44 patients recruited to date
§ 2 new sites opened in UK in ongoing SAS (SFX-01 After Subarachnoid Haemorrhage) Phase IIb clinical study and 65 patients recruited to date
§ Launch of Scientific and Medical Advisory Board (“SMAB”) with, as initial members, the sulforaphane experts Professor Giovanni Mann, Professor of Vascular Physiology, King’s College, London, and Professor Albena Dinkova-Kostova, Professor of Chemical Biology, University of Dundee
§ Further elucidation of SFX-01 mechanism of action in breast cancer
§ Additional patents granted over SFX-01 including first patent grant in Europe for SFX-01, relating to manufacturing and scale-up processes
§ Financial performance in line with expectations:
– Total comprehensive loss of £2.6m (2017: loss of £3.1m)
– Net cash outflow of £0.2m (2017: outflow of £3.3m (before short-term investment movements))
– Cash and short-term investments and cash on deposit at 31 March 2018 of £3.63m (31 March 2017: £3.86m)
§ Fundraising in December 2017 raised £2.1m after expenses
Dr Stephen Franklin, Chief Executive Officer of Evgen Pharma, said:
“We are very encouraged by the interim data from the STEM trial which was announced earlier this week. Patient recruitment in both trials is on track to report around the end of the year.
“Interest in the potential of sulforaphane continues to gain momentum. There are now approximately 1,800 peer-reviewed scientific publications on sulforaphane and, since the beginning of 2018, the publication rate is running at an all-time high of over five publications per week.
“With the ongoing growth of scientific data supporting the therapeutic potential of sulforaphane, together with the positive progress of our Phase II trials, we remain confident in the prospects for the Company.”