Briacell Therapeutics Corp (NASDAQ: BCTX) reported an improved survival rate of 12 months in Bria-MT administered patients with breast cancer.
The company also treated these women using a combination of Bria-MT and other checkpoint inhibitors like pembrolizumab and retifanlimab.
Cells having human leukocyte antigen molecules (HLA molecules) on their surface triggers the body’s immune response. The company’s monotherapy treatment is highly effective in patients if their HLA molecules match with Bria-MT.
Its shares surged higher by 104% in the premarket hours on June 2, 2021, after the company issued an update on the potential of its drug candidate Bria-MT to improve the overall survival rate to 12 months in females with advanced breast cancer.
Bria-MT also improved the overall survival rate to more than 21.4 months in a top responder besides resolving ‘eye-bulging orbital tumor.
Raises $27.2 million
Briacell raised $27.2 million through a private placement in June 2021. The company will issue 5.17 million units each at $5.26 to accredited investors as part of the deal.
Each unit comprises one common share and one warrant that allows investors to buy an additional common share.
The unitholders can exercise their warrants to purchase an additional share at $6.19 within five and half years. Briacell would close the deal on June 7, 2021.
Inducts Miguel A. Lopez-Lago
Briacell strengthened its board by recruiting Miguel A. Lopez-Lago as an SD (R&D) in May 2021. He will contribute more than 20 years of experience in cancer research.
During his 20-year tenure at New York-based Memorial Sloan-Kettering Cancer Center, he explored tumor biology aspects like characterizing biological mechanisms and developing innovative therapies to treat Mesothelioma.
Recently Lopez-Lago showed interest in studying tumor immune-microenvironment and developing immunotherapies using CAR (chimeric antigen receptor) T cell technologies to cure thoracic cancers. He is promoted as a senior research scientist in 2013 at MSKCC.
Briacell’s CEO, William V. Williams, will participate in the global small-cap investor conference organized by Benzinga on May 13, 2021, at 12:20 PM. He is also a participant in a discussion on the same day at 11:50 AM to discuss investment in the post COVID era.
Williams will also lecture on his corporate achievements on May 17, 2021, at 2:00 PM at an investors’ summit and again on June 9, 2021, at noon at LD MIIC (Micro Invitational Investor Conference) 2021.