{"id":492417,"date":"2021-05-12T16:11:45","date_gmt":"2021-05-12T20:11:45","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cyclacel-pharmaceuticals-reports-first-quarter-2021-financial-results\/"},"modified":"2021-05-12T16:11:45","modified_gmt":"2021-05-12T20:11:45","slug":"cyclacel-pharmaceuticals-reports-first-quarter-2021-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cyclacel-pharmaceuticals-reports-first-quarter-2021-financial-results\/","title":{"rendered":"Cyclacel Pharmaceuticals Reports First Quarter 2021 Financial Results"},"content":{"rendered":"
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\n – Announces IND Authorization by FDA for Fadraciclib, a CDK2\/9 Inhibitor, in Solid Tumors –\u00a0
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\n – Recent Publication Reported that Overactive KRAS Mutants are Impeded by CDK9 Inhibition –\u00a0
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\n – Following Recent Financing, Cash Runway Extended to Early 2023 –\u00a0
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\n – Conference Call Scheduled May 12, 2021 at 4:30 p.m. ET –<\/em>
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BERKELEY HEIGHTS, N.J., May 12, 2021 (GLOBE NEWSWIRE) — Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC, NASDAQ: CYCCP; “Cyclacel” or the “Company”), a biopharmaceutical company developing innovative medicines based on cancer cell biology, today reported its financial results for the first quarter 2021 and business highlights, including an update on its progress with fadraciclib and CYC140, Cyclacel’s novel CDK2\/9 and PLK1 inhibitors, respectively.<\/p>\n

\u201cDuring the quarter, we have made significant progress in bringing our two oral targeted development candidates into mid-stage clinical development. Following recent FDA authorization of our IND for oral fadraciclib, we will finalize contract discussions with sites and open our multi-cohort Phase 1b\/2 study in patients with solid tumors,\u201d said Spiro Rombotis, President and Chief Executive Officer. \u201cWe believe fadraciclib is establishing a strong position among compounds in clinical development that specifically address cancer resistance mechanisms, including suppression of MCL1, MYC and cyclin E. A recent publication identified potential utility of CDK9 inhibitors in KRAS mutant colorectal cancer, one of the tumor types in our study. Together with our oral CYC140 PLK1 inhibitor program, which has shown in preclinical models that KRAS mutant cancers are sensitive to CYC140 inhibition, we hope to provide valuable alternatives to patients with these difficult to treat malignancies. After strengthening our balance sheet in the quarter, we are executing a precision medicine strategy to achieve multiple milestones and data read outs over the next two years.\u201d<\/p>\n

\n Key Corporate Highlights<\/strong>\n <\/p>\n