{"id":758188,"date":"2023-05-11T18:12:32","date_gmt":"2023-05-11T22:12:32","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cyclacel-pharmaceuticals-reports-first-quarter-financial-results-and-provides-business-update\/"},"modified":"2023-05-11T18:12:32","modified_gmt":"2023-05-11T22:12:32","slug":"cyclacel-pharmaceuticals-reports-first-quarter-financial-results-and-provides-business-update","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cyclacel-pharmaceuticals-reports-first-quarter-financial-results-and-provides-business-update\/","title":{"rendered":"Cyclacel Pharmaceuticals Reports First Quarter Financial Results and Provides Business Update"},"content":{"rendered":"
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\n – Key Catalysts ahead with multiple Value Generating Readouts –
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\n – Expects to Report Phase 1\/2 Data Releases with Oral Fadraciclib <\/em>
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\n – Advancing single-agent Efficacy with Differentiated Oral Plogosertib –
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\n – Adds to Balance Sheet with non-dilutive $4.7 million from R&D Tax Credit –
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\n – Management to Host Conference Call at 4:30 pm EDT Today –<\/em>
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BERKELEY HEIGHTS, N.J., May 11, 2023 (GLOBE NEWSWIRE) — Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC, NASDAQ: CYCCP; “Cyclacel” or the “Company”), a biopharmaceutical leader in cell cycle checkpoint control developing innovative medicines based on cancer cell biology, announced today first quarter financial results and provided a business update.<\/p>\n

\u201cWe are on track to deliver on key readouts this year. For fadraciclib, our oral CDK2\/9 inhibitor, we plan to report pharmacokinetic (PK), pharmacodynamic (PD), safety and activity data from the dose escalation stage of our 065-101 study followed by initial clinical activity data from the Phase 2 proof of concept (PoC) stage. We also expect to report PK, PD, safety and activity data from the dose escalation part of our 140-101 Phase 1\/2 study of plogosertib, our oral PLK1 inhibitor,\u201d said Spiro Rombotis, President and Chief Executive Officer. \u201cData collected to date suggest that fadraciclib and plogosertib are differentiated from other molecules in their respective classes. Furthermore, the receipt of $4.7 million in non-dilutive capital from the R&D tax credit along with existing resources supports our ongoing clinical programs.\u201d<\/p>\n

\u201cBoth clinical programs with fadraciclib and plogosertib are progressing well and are approaching important data readouts,\u201d said Mark Kirschbaum, M.D., Chief Medical Officer. \u201cIn 065-101, we are currently recruiting patients at dose level 6A of fadraciclib with the aim of optimizing the recommended Phase 2 dosing schedule before opening the PoC stage. Our Phase 2 clinical sites are ready to enroll patients with the tumor types that appear to be most sensitive to fadraciclib treatment. With plogosertib we are recruiting patients at dose level 4. After observing unexpected efficacy at lower dose levels with three patients on treatment for three to eight cycles, we are investigating the biological rationale for this effect and how we could exploit these findings in subsequent studies. We remain enthusiastic about our clinical stage pipeline and look forward to presenting emerging data from these two programs during the year.\u201c<\/p>\n

\n Key Upcoming Milestones for 2023<\/strong>\n <\/p>\n