Cyclacel Pharma (CYCC) Posts Wider Q1 Loss

Cyclacel Pharma (NASDAQ: CYCC) reported Q1 EPS of ($1.48), $0.99 worse than the analyst estimate of ($0.49).

“During the quarter, we have made significant progress in bringing our two oral targeted development candidates into mid-stage clinical development. Following recent FDA authorization of our IND for oral fadraciclib, we will finalize contract discussions with sites and open our multi-cohort Phase 1b/2 study in patients with solid tumors,” said Spiro Rombotis, President and Chief Executive Officer. “We believe fadraciclib is establishing a strong position among compounds in clinical development that specifically address cancer resistance mechanisms, including suppression of MCL1, MYC and cyclin E. A recent publication identified potential utility of CDK9 inhibitors in KRAS mutant colorectal cancer, one of the tumor types in our study. Together with our oral CYC140 PLK1 inhibitor program, which has shown in preclinical models that KRAS mutant cancers are sensitive to CYC140 inhibition, we hope to provide valuable alternatives to patients with these difficult to treat malignancies. After strengthening our balance sheet in the quarter, we are executing a precision medicine strategy to achieve multiple milestones and data read outs over the next two years.”

For earnings history and earnings-related data on Cyclacel Pharma (CYCC) click here.

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