The one positive sign is that AstraZeneca are continuing to expand site recruitment for both AZD0466 trials. However, the interim results from ongoing Phase One NCT04865419 (the most advanced trial) was a little underwhelming IMO.
Remember that according to AZ’s own data, no patient had yet met the formal criteria of a response. Additionally, even at these lower doses so far, 44% of patients had a treatment-related adverse event.
A lot is riding on these ongoing AstraZeneca conducted Phase One trials being successful and ultimately progressing to Phase 2. If not, then look out below because there is little substance elsewhere in-house to support the current share price IMO.
I personally wouldn’t be surprised to see a capital raising in the 3rd or 4th Q of this CY as a hedge against unsuccessful AZD0466 Phase One trial results.
Starpharma have already recently acknowledged that in-house DEP-Gemcitabine was halted from going into the clinic at the 11th hour to conserve cash. DEP-Docetaxel is dead in the water IMO so no licence fees there. Condoms, VivaGel and Viraleze are bringing in negligible revenue. Also with the in-house Phase 2 trials slowly grinding towards conclusion, the generous Australian R&D tax incentive refund will likely taper off.
So that leaves the hope that superstar CEO Jackie Fairley somehow signs a licencing deal of substance for either DEP-Irinotecan or DEP-Cabazitaxel in 2024. Based on past performance, I wouldn’t be so confident.
Anyway, I’m hoping AZD0466 is a success and Starpharma eventually delivers for shareholders despite the current Chairman and CEO.
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