OncBioMune Pharmaceuticals, Inc. (OTCQB: OBMP) is engaged as a biopharmaceutical company, which focuses on cancer therapies. Shares of the cancer treatment producer are rallying 8.42%, through early trading on Thursday, August 31, 2017. Over the past month, OncBioMune Pharmaceuticals, Inc. has seen average daily volume of 255,797 shares. However, volume of 887,073 shares or dollar volume of $91,368, has already exchanged hands on Thursday.
Shares of OncBioMune Pharmaceuticals, Inc. are gaining today, after the company announced that its Phase 2 trials are currently under review and awaiting approval to commence by the Regulatory Committee at Beth Israel Deaconess Medical Center/Harvard Medical School. The Phase 2 trials will feature the ProscaVax treatment, which is being tested for prostate cancer treatment. Here is the full press release detailing of the Phase 2 trial review:
OncBioMune Pharmaceuticals, Inc. Press Release:
BATON ROUGE, LA–(Marketwired – August 31, 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 report that the protocol for the planned Phase 2 study of ProscaVax for early-stage prostate cancer is now under review by the Regulatory Committee at Beth Israel Deaconess Medical Center/Harvard Medical School, the host hospital network for the study.
In the trial, ProscaVax, OncBioMune’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), will be evaluated for safety, tolerability and efficacy in treatment-naïve prostate cancer patients at disease presentation. Per the protocol, patients to be enrolled in the study will be newly diagnosed with prostate cancer, deciding in collaboration with their oncologist to forego standard approved therapies, such as a radical prostatectomy, radiation or brachytherapy, in favor of careful monitoring for disease progression, a process known more commonly as “active surveillance.” Presently, there are no FDA-approved treatments for prostate cancer patients in active surveillance.
“The Regulatory Committee is a component of the Institutional Review Board and integral to the protocol approval process to commence the study,” commented Dr. Jonathan Head, Chief Executive Officer at OncBioMune. “I interpret the protocol now being in their hands as a signal that we are getting close to conducting the first ever trial of ProscaVax as a front-line treatment for prostate cancer.”
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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.