BriaCell Therapeutics Corp. (NASDAQ: BCTX ) stock plunged on Wednesday after rallying on Tuesday on positive data from a breast cancer trial.
This small biotechnology company, focused on cancer, has a market capitalization of approximately $20.57 million, according to data from Benzinga Pro .
Capital Raise
During after-hours trading on Tuesday, BriaCell Therapeutics priced its public offering of $30 million .
The clinical-stage biotechnology company focused on cancer immunotherapies priced 5.37 million units at $5.59 per unit.
Each unit consists of one common share (or pre-funded warrant (“Pre-Funded Warrant”) in lieu thereof) and one warrant.
Each warrant has an exercise price of $6.93 per share.
Trial Data
BriaCell on Tuesday announced the durable and sustained complete resolution of a lung metastasis in a patient with metastatic breast cancer (MBC) treated with Bria-OTS. The patient is hormone receptor-positive (HR+), HER2-negative.
Bria-OTS is an off-the-shelf personalized immunotherapy based on BriaCell’s lead candidate Bria-IMT, currently being evaluated in a Phase 1/2a study for metastatic recurrent breast cancer .
The trial includes both monotherapy dose escalation and checkpoint inhibitor combination dose expansion cohorts. The company has recently entered the dose expansion phase .
The first patient enrolled in the Bria-OTS study, a 78-year-old woman with advanced metastatic breast cancer and multiple prior treatment failures, achieved complete (100%) resolution of a lung metastasis following four doses of Bria-OTS single-agent therapy .
The complete response, initially observed at 2 months, was subsequently confirmed at 4 months, 6 months, and now at 11 months.
The patient received 17 cycles of Bria-OTS, completed 12 months of the study, and remains in survival follow-up.
What’s Next
The Phase 1 dose escalation portion of the study is complete, and the Phase 2a portion, evaluating a combination of Bria-OTS with an immune checkpoint inhibitor, is now underway.
BCTX Price Action: BriaCell Therapeutics shares were down 53.75% at $5.05 during premarket trading on Wednesday. The stock is trading at a new 52-week low, according to Benzinga Pro data .
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