Staff and Wire Reports
Tuesday, 03 November 2009 20:03
GenSpera, Inc. announced that its common stock began trading on the OTC Bulletin Board under the trading symbol GNSZ.
"The quotation of our common stock on the OTCBB is another important milestone in the growth of our company, especially as it follows FDA approval to start our
first clinical trial, which we plan to commence later this year," said Dr. Craig Dionne, GenSpera CEO. "We hope this will increase GenSpera`s exposure to the
investment community and we are excited to enter this new phase of our company evolution."
GenSpera received FDA approval September 11, 2009 to begin a Phase I clinical trial of its lead drug, G-202, in patients with cancers that have progressed after treatment with other anti-cancer agents. While the primary trial endpoints of the study will be to determine drug safety and tolerability, the design also allows the collection of efficacy data as well.
San Antonio-based GenSpera will proceed with a Phase I clinical study during the fourth quarter of 2009 at the Sidney Kimmel Comprehensive Cancer Center at Johns Hopkins University in Baltimore and the University of Wisconsin Carbone Cancer Center in Madison.
In preclinical testing, G-202 was shown to ablate tumors in animal models of breast cancer, prostate cancer and kidney cancer.
GenSpera, Inc. owns and controls all rights to G-202 and anticipates a strategic partnership to maximize the value of the drug as it progresses through future clinical trials.
Shares of the company began trading with a bang, closing at $2.50+0.50 (25.00%).
The company’s second drug candidate, G-115, will directly target prostate cancer.
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