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Monday, June 21, 2021

Why Chemomab Therapeutics Ltd. (CMMB) Stock Leapt More Than 3.98% Today? Here Is The Reason

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Chemomab Therapeutics, Ltd. (Nasdaq: CMMB), a clinical-stage biotech company specializing in the commercialization of innovative therapeutics for fibrosis-related diseases with rising unmet demand, announced enlistment of the first patient in its Phase 2a study of CM-101 in Non-Alcoholic Steatohepatitis (NASH).

At last check in current trading, shares of Chemomab Therapeutics Ltd. (CMMB) were up 3.98% at $20.64. CMMB stock closed last session at $19.85. Shares of the company were fluctuating between $19.19 and $22.79. In the past 12 months, the company’s stock has advanced 37.85%, and in the last one week, the stock has moved down -37.24%. 

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About CMMB

The Phase 2a Study is an omni-center, randomized, double-blind, placebo-controlled study and uses several doses to evaluate the method of action, level of safety, pharmacokinetics and pharmacodynamic effects, and the anti-fibrotic effects of subcutaneous CM-101 in NASH patients effected with fibrosis stage F2-F3. The trial will enlist 40 patients and is expected to finish enlistment by the end of 2021 with data anticipated in 1H 2022.

“We are excited to initiate this Phase 2a study of CM-101 in NASH, one of our three Phase 2 studies for CM-101,” said Dr. Adi Mor, CEO of Chemomab

Statistics acquired from this study will provide adequate evidence and validate subcutaneous delivery of CM-101. If positive data is shown, the subcutaneous formulation may potentially be used in registrational trials in Primary Sclerosing Cholangitis (PSC) and Systemic Sclerosis (SSc).

The study will enlist patients with histological assurance of NASH free from cirrhosis on a historical diagnostic liver biopsy. Eight subcutaneous injections will be administered to the patients with CM-101 given every two weeks for 14-weeks and will be evaluated for serum fibrotic and fibrolysis markers, serum inflammatory markers, fat percentage in the liver, and rigidity of liver.

Chemomab also completed its prior announcement of private investment in public equity (PIPE) and acquired gross proceeds of $45.5 million. After the concluding of PIPE, almost 11.9 million American Depositary CMMB shares were outstanding on a completely diluted basis.

Conclusion

Positive data acquired from the Phase 2a Study for CM 101, combined with lucrative private investments and a competent board of directors has peaked investor interest with CMMB stock price rising substantially at last check.

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