Why Did CANF Stock Soar 40% In Pre-Market Today?

Shares of Can-Fite BioPharma (CANF) surged more than 40% in pre-market trading on Wednesday after the company reported positive results from its Phase 2A open-label study of namodenoson in patients with advanced pancreatic ductal adenocarcinoma (PDAC) who had previously failed other treatments.

The trial met its primary safety endpoint, showing that the drug was very well tolerated, with no new safety concerns observed. The study enrolled 20 high-risk patients with advanced, metastatic disease who had received one or more prior therapies.

Namodenoson is a selective A3 adenosine receptor agonist that has shown anti-tumor activity in preclinical models and is also being studied in advanced liver cancer. The drug has received Orphan Drug Designation from the U.S. Food and Drug Administration (FDA) for the treatment of pancreatic cancer.

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