Clarity Pharma shares edge up on clinical trial result, UoQ supply deal
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The news: Shares in Clarity Pharmaceuticals edged up in early trading, having briefly jumped more than 7%, after the clinical-stage radiopharmaceutical company reported positive clinical trial results for its prostate cancer treatment Cu-SAR-bisPSMA, and signed a new supply agreement with The University of Queensland.
The numbers: Clarity shares initially climbed more than 7% to $3.18, but were only 0.7% higher at $2.99 at 10:45am AEDT, having retreated nearly 30% over the last 12 months.
The context: Clarity called the results from the dose escalation phase of its SECuRE study "extraordinary", having observed "impressive signs of efficacy" in the trial-stage treatment. Cu-SAR-bisPSMA will now progress to phase two of its theranostic trial.
Meanwhile, Clarity signed a supply agreement with The University of Queensland for copper isotope copper-64, to support the Cu-SAR-bisPSMA clinical trials in Australia. The deal will also support the rollout of two further theranostic pre-clinical programs, the company said.
