24/7 Market News Snapshot 23 October, 2024 – Cyclacel Pharmaceuticals, Inc (NASDAQ:CYCC)

October 23, 2024

DENVER, Colo., 23 October, 2024 (247marketnews.com) – (NASDAQ:CYCC) are discussed in this article.
Cyclacel Pharmaceuticals, Inc. (CYCC) is experiencing a surge in investor interest, with its stock trading at $1.611 during pre-market hours, reflecting a significant gain of approximately 12.66% from the prior closing price of $1.430. The notable volume of 5.26 million shares traded indicates robust market engagement and potential momentum for the company. Technical analysis suggests the possibility of continued upward movement, particularly if the stock maintains levels above crucial support thresholds, while traders are advised to monitor resistance at around $1.70, as a breakthrough could lead to additional buying interest.

Contributing to this positive sentiment, Cyclacel recently unveiled encouraging interim results from its Phase 2 clinical trial of fadraciclib, an innovative CDK2/9 inhibitor designed for treating various cancers. These findings were presented at the 2024 EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics and have shown promise in patients with advanced solid tumors possessing CDKN2A/B genetic alterations.

In the key Cohort 8 of the ongoing 065-101 clinical study, twelve patients were enrolled, highlighting good tolerability for fadraciclib. The trial reported no serious adverse events, and while common side effects included mild gastrointestinal disturbances, the treatment showed potential efficacy with two out of six evaluable patients achieving stable disease.

Cyclacel continues to explore fadraciclib’s application across multiple cohorts, which also include a focus on T-cell lymphoma. Spiro Rombotis, the company’s President and CEO, expressed enthusiasm regarding the interim results and emphasized the commitment from clinical investigators and patients alike. The unique mechanism of fadraciclib aims to lead to significant advancements in treating patients with specific genetic alterations, underscoring Cyclacel’s dedication to developing innovative therapies in oncology. Further updates from this promising trial are expected in the near future.

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