Parabilis to present updated zolucatetide desmoid tumor data at ESMO on Oct. 24
Parabilis Medicines announced that Dr. Mrinal Gounder will present new Phase 1/2 data for its lead drug zolucatetide in desmoid tumors at the European Society for Medical Oncology Congress on Oct. 24. The update adds four months of follow‑up to the previous February cut and includes dose‑optimization results that will guide the upcoming Phase 3 trial. The company highlighted that 74% of patients with at least two scans had shown an objective response as of Feb. 16. Parabilis holds $1.1 billion in cash, which it expects to sustain operations through 2030.
Why it matters
The presentation could confirm the drug’s efficacy and determine the dose for the Phase 3 study, influencing future regulatory approval prospects. The company’s ample cash runway reduces the risk of financing constraints even if the data are weaker than expected.
Key facts
- 1Parabilis shares rose 13% to $25.88 after the announcement. rttnews.com
- 2The updated data will be presented at ESMO on Oct. 24 at 8:45 a.m. ET. finance.yahoo.com
- 3The data cutoff for the new presentation is June 22, adding four months of follow‑up to the prior February cut. finance.yahoo.com
- 4Dose‑optimization results will be included to set the dose and schedule for a planned Phase 3 trial. finance.yahoo.com
- 5As of Feb. 16, 74% of desmoid patients with at least two follow‑up scans had an objective response. finance.yahoo.com
- 6Parabilis has $1.1 billion in cash and short‑term investments, expected to fund operations through 2030. finance.yahoo.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.