OncBioMune Pharmaceuticals, Inc. (OTCQB: OBMP) is engaged as a biopharmaceutical company, which develops treatments for cancer. Shares of the biopharma company are climbing 22.67%, through early trading on Thursday, August 24, 2017. Over the past month, OncBioMune Pharmaceuticals, Inc. has seen average daily volume of 228,384 shares. However, volume of 1.16 million shares or dollar volume of $106,720, has already exchanged hands on Thursday.
Shares of OncBioMune Pharmaceuticals, Inc. are rallying today, after the company announced that the 20th and final patient in its Phase 1A clinical trial has completed treatment of ProscaVax, a prostate cancer treatment. The company notes that the clinical trials are being completed in Mexico. Here is the full press release detailing of the clinical trial treatment:
OncBioMune Pharmaceuticals, Inc.
BATON ROUGE, LA–(Marketwired – August 24, 2017) – OncBioMune Pharmaceuticals, Inc. (OTCQB: OBMP) (“OncBioMune” or the “Company”), a revenue-stage biopharmaceutical company engaged in the development of targeted cancer therapies, a proprietary cancer vaccine technology and commercialization of a portfolio of products internationally, is pleased to announce that the 20th and final patient in the Phase 1A portion of a Phase 1 trial of ProscaVax for prostate cancer completed treatment per protocol. In the study, ProscaVax, the Company’s novel immunotherapeutic cancer vaccine consisting of a combination of tumor-associated prostate specific antigen (PSA) with the biological adjuvants interleukin-2 (IL-2) and granulocyte-macrophage colony-stimulating factor (GM-CSF), is being evaluated for safety, tolerability and efficacy in PSA-progressing prostate cancer in hormone-naïve and hormone-independent patients.
The interventional, open label trial is being hosted at the University of California San Diego Moores Cancer Center and the Veterans Hospital in La Jolla, California under an investigational new drug (IND) application from the U.S. Food and Drug Administration with funding from the U.S. Navy Cancer Vaccine Program. The original study design for the trial included a second stage, which OncBioMune has previously disclosed that it will forego due to favorable interim safety results from the 1A stage to initiate two separate Phase 2 clinical trials evaluating ProscaVax in both early-stage prostate cancer at Beth Israel Deaconess Medical Center and also in late-stage prostate cancer patients in a prominent hospital network in Mexico.
“To date, ProscaVax has been very well tolerated with no serious adverse events related to the vaccine in the trial. To that end, we are optimistic that the treatment of the final patient will continue on trend, so the study will meet its primary endpoint of no dose limiting adverse events 30 days subsequent to the last injection,” commented Andrew Kucharchuk, President and Chief Financial Officer at OncBioMune. “We look forward to the final data on the primary endpoint of safety early in September and later analysis of the complete data set to look for further validation of signs of efficacy based upon increased immune responses and slowing of disease progression that was found in interim analysis.”
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About OncBioMune Pharmaceuticals, Inc.
OncBioMune Pharmaceuticals is a revenue-stage biopharmaceutical company engaged in the development of novel cancer immunotherapy products, including a proprietary vaccine technology designed to stimulate the immune system to attack tumor cells without damaging healthy tissue. OncBioMune is also involved in drug development and commercialization internationally through our wholly-owned subsidiary, OncBioMune México, S.A. De C.V. Our lead pipeline product, ProscaVax™, is scheduled to commence two, separate mid-stage clinical trials in 2017: a Phase 2 for early-stage prostate cancer at a major Northwest U.S. university cancer research hospital and a Phase 2/3 study in Mexico for late-stage prostate cancer patients. OncBioMune has a portfolio of targeted and licensed therapies, some of which are biosimilars and generics to blockbuster drugs. OncBioMune is headquartered in Baton Rouge, LA.
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that could cause OncBioMune Pharmaceuticals’ actual results and experience to differ materially from anticipated results and expectations expressed in these forward looking statements. OncBioMune Pharmaceuticals has in some cases identified forward-looking statements by using words such as “anticipates,” “believes,” “hopes,” “estimates,” “looks,” “expects,” “plans,” “intends,” “goal,” “potential,” “may,” “suggest,” and similar expressions. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements are OncBioMune Pharmaceuticals’ need for, and the availability of, substantial capital in the future to fund its operations and research and development; the fact that OncBioMune Pharmaceutical’s vaccines and therapeutics may not successfully complete pre-clinical or clinical testing, or be granted regulatory approval to be sold and marketed in the United States or elsewhere. A more complete description of these risk factors is included in OncBioMune Pharmaceutical’s filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. OncBioMune Pharmaceuticals undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.