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Purple Biotech Ltd. (NASDAQ/TASE: KTOV) has announced a corporate name change from Kitov Pharma Ltd., effective December 22, 2020. This change reflects the company’s focus on developing first-in-class oncology therapies for cancer treatment. CEO Isaac Israel highlighted significant 2020 milestones, including the initiation of clinical studies for NT219, and plans for CM24. The company successfully raised over $60 million to support its strategic goals. Additionally, Purple Biotech will relocate its headquarters near the Weizmann Institute in Rehovot, Israel.
Kitov Pharma Ltd. (NASDAQ/TASE: KTOV), a clinical-stage company focused on therapies to combat tumor immune evasion, announced management presentations at two upcoming conferences. The H.C. Wainwright 6th Annual Israel Conference will take place on November 12, 2020, at 9:00 am ET. Additionally, Kitov will participate in the Jefferies Virtual London Healthcare Conference from November 17-19, 2020. Kitov's pipeline includes NT219 and CM24, targeting cancer drug resistance and immune evasion pathways.
Kitov Pharma (NASDAQ/TASE: KTOV) announced an expansion of its Phase 1/2 clinical trial for CM24, a monoclonal antibody targeting CEACAM1, in partnership with Bristol Myers Squibb. The trial will now explore CM24 in patients with pancreatic cancer alongside non-small cell lung cancer (NSCLC). Initial Phase 1 results indicated that CM24 is safe and well-tolerated, with 33% of evaluable patients achieving stable disease. The trial aims to determine the recommended Phase 2 dose and will commence before the end of 2020, with top-line results expected in late 2021.
Kitov Pharma Ltd. (NASDAQ/TASE: KTOV) announced the receipt of a Notice of Allowance for a patent covering NT219, a dual inhibitor targeting key oncogenic pathways, which is expected to enhance cancer treatment options. The patent includes combinations of NT219 with 2nd and 3rd generation EGFR inhibitors like osimertinib, which has annual sales exceeding $3 billion. In preclinical studies, NT219 showed promising efficacy in overcoming drug resistance in non-small-cell lung carcinoma. The company plans to advance clinical trials for NT219 in the coming years.
Kitov Pharma (NASDAQ/TASE: KTOV) announced new preclinical data demonstrating the potential of NT219 to combat cancer drug resistance. The findings indicate that NT219 reduced β-catenin activity in IRS2-amplified colorectal cancer cells and inhibited cell viability. Kitov is currently enrolling patients in a Phase 1/2 clinical trial, testing NT219 as a monotherapy and in combination with cetuximab for recurrent solid tumors. The company expects top-line data in the second half of 2021, reinforcing the rationale for NT219's use alongside other oncology therapies.
Kitov Pharma (NASDAQ/TASE: KTOV) announced the dosing of the first patient in a Phase 1/2 clinical trial of NT219, targeting IRS1/2 and STAT3 to combat tumor immune evasion and drug resistance in hard-to-treat cancers. This milestone indicates progress towards evaluating the drug's safety and efficacy as monotherapy and in combination with cetuximab for advanced solid tumors. Top-line data from the initial phase is anticipated in late 2021. Kitov's oncology pipeline also includes another drug, CM24, aimed at improving cancer treatment outcomes.
Kitov Pharma (NASDAQ/TASE: KTOV) announced the granting of patents for its lead oncology candidates, CM24 and NT219, in China, complementing existing patents in the U.S. and EU. CM24 is a monoclonal antibody targeting CEACAM1, while NT219 is a small molecule addressing drug resistance in cancers. The company plans to initiate a Phase 1/2 clinical trial for CM24 in combination with nivolumab for non-small cell lung cancer and pancreatic cancer in late 2020. A similar trial for NT219 has already begun. Kitov aims to address the rising cancer rates in China through strategic collaboration and a strong patent portfolio.
Kitov Pharma Ltd. (NASDAQ/TASE: KTOV) announced a change in its American Depositary Shares (ADS) ratio from one ADS representing one ordinary share to one ADS representing ten ordinary shares, effective August 21, 2020. This adjustment aims to meet the $1.00 minimum bid price requirement for NASDAQ compliance. The ratio change will resemble a one-for-ten reverse ADS split, with the Bank of New York Mellon overseeing the exchange. The change is expected to enhance ADS trading suitability, though future prices cannot be guaranteed. The Company continues to advance its oncology pipeline, including NT-219 and CM-24.
Kitov Pharma Ltd. (KTOV) announced its financial results for the six months ending June 30, 2020, reporting total revenues of $1 million, unchanged from the prior year. The company experienced an operating loss of $4.3 million, and a net loss of $27.8 million, primarily due to increased expenses related to warrants. Kitov ended the period with cash and equivalents of $63 million, sufficient to fund operations through 2024. Key milestones included positive Phase 1 results for CM24 and FDA acceptance of its IND for NT219, positioning the company for significant trials in oncology.
Kitov Pharma (KTOV) announced the initiation of a Phase 1/2 clinical trial for NT219, a novel small molecule aimed at treating advanced solid tumors and drug-resistant cancers. The trial will evaluate NT219 as a monotherapy and in combination with cetuximab for patients with recurrent or metastatic solid tumors, particularly in head and neck cancer and colorectal adenocarcinoma. Preliminary data from the study is expected in the second half of 2021, with eight sites planned across the U.S. and Canada.
