Provectus Pushes Forward with Cancer Drug
Provectus Pharmaceuticals, Inc. (PVCT), which competes in the same market as companies like Dendreon Corporation (DNDN) and MannKind Corporation (MNKD), updated shareholders on its 2010 clinical develop plans and potential for its revolutionary cancer drug.
Provectus Pharmaceuticals, Inc. (PVCT), which is developing a revolutionary cancer drug called PV-10 based on the Rose Bengal staining compound, updated shareholders in a letter issued on January 7, 2010. In the letter, management outlined its 2010 development plans and expressed enthusiasm as it prepares for some very important events this year.
A Successful 2009 Lined with Milestones
In 2009, Provectus reached many milestones in the development of PV-10 for metastatic melanoma. The company completed subject accrual in its Phase 2 trial and presented interim data for the study at the 2009 American Society of Clinical Oncology (ASCO) Scientific Proram in May and June.
The abstract that Provectus presented reported that initial one year overall survival data from the first 20 subjects in the current Phase 2 trial showed comparable trends to those of the Phase 1 trial, which were markedly longer overall and disease specific survival for subjects that were responsive to PV-10 relative to those who did not experience a robust response.
Meanwhile, based on requests from physicians, Provectus initiated two expanded access programs (“compassionate use”) for PV-10 in Australia and the U.S. These are active at five of the company’s Phase 2 study centers, with a total of 20 melanoma patients and 8 of those who have crossed over from the Phase 2 study for additional treatment.
Looking Ahead to 2010 and Beyond
Provectus has ample cash on its balance sheet to fund their development activities through the end of 2010, with an estimated $300,000 needed to complete current clinical trials. The company intends to push aggressively ahead with its PV-10 development by collecting and analyzing final data from all 80 of its trial subjects and providing shareholders with updates.
The potential success of PV-10 has huge implications for Provectus and cancer patients around the world. According to the American Cancer Society, there were approximately 62,000 new cases of melanoma in the U.S. in 2008, leading to more than 8,000 deaths. Meanwhile, the World Health Organization estimates that 48,000 patients globally die from the disease.
In the end, Provectus shareholders have a lot of positive developments in 2010. Additional interim results from its Phase 2 trials, and its compassionate use program results represent substantial catalysts for the stock price.
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http://www.pvct.com/pressrelease.html?article=20100107
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