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Here’s why the Patrys (ASX: PAB) share price is climbing 13% today

This small-cap ASX share revealed some exciting news today.
The post Here’s why the Patrys (ASX: PAB) share price is climbing 13% today appeared first on The Motley Fool Australia. –

The Patrys Limited (ASX: PAB) share price is starting the week on a strong note. This comes after the therapeutic antibody development company announced new data from non-clinical studies of its cancer-fighting antibody, PAT-DX3.

Patrys is developing a full-sized immunoglobulin G (IgG) antibody and humanised version of a smaller deoxymab antibody fragment to treat cancers through DNA.

During morning trade, the company’s shares are up 13.73% to 5.8 cents.

What did Patrys announce?

In a statement to the ASX, Patrys advised that PAT-DX3 is able to cross the blood-brain barrier (BBB) in an animal model of primary brain cancer. This includes the most aggressive type of cancer, glioblastoma multiforme (GBM).

The company noted that previous studies showed a smaller antibody fragment, PAT-DX1, can cross the BBB. However, this is the first time a full-sized deoxymab (PAT-DX3) has done so.

The company is now planning follow-up studies to compare the effects of both PAT-DX1 and PAT-DX3. Patrys will look at tumour reduction and survival in a range of primary and secondary brain cancer models.

In addition, PAT-DX3 is also being tested to target nanoparticles carrying a payload of anti-cancer drugs specifically to tumours. This allows specific delivery of cancer drugs to multiple types of cancer while having minimal impact on normal, healthy cells.

Patrys CEO and managing director Dr James Campbell said:

We are very excited by this new discovery that opens up a range of development and partnering opportunities for Patrys around PAT-DX3.

As PAT-DX3 shares a common mechanism of action with PAT-DX1, it is expected that it will also localise to both primary and secondary tumours in the brain and selectively kill cancer cells by blocking their DNA Damage Repair (DDR) systems. While Patrys remains focused on preparing for its first-in-human study of PAT-DX1, it is clear that PAT-DX3 is a valuable addition to the company’s deoxymab antibody platform.

About the Patrys share price

During the last 12 months, the Patrys share price has accelerated by more than 380% and more than 141% in 2021. It’s worth noting the company’s share price is nearing its 52-week high of 6.3 cents achieved late last month.

Patrys has a market capitalisation of roughly $105 million, with approximately 1.8 billion shares on its registry.

The post Here’s why the Patrys (ASX: PAB) share price is climbing 13% today appeared first on The Motley Fool Australia.

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More reading

Why we avoid mining and biotech ASX shares: fund manager

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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