Guess which ASX 200 biotech stock is jumping 7% on big news

What is getting investors excited today? Let's find out.

| More on:
Happy, tablet or doctor in a laboratory with research results or positive feedback after medical data analysis. Smile, vaccine or healthcare worker reading or working on futuristic science innovation.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Clarity Pharmaceuticals Ltd (ASX: CU6) share price is avoiding the market weakness on Wednesday.

In morning trade, the ASX 200 biotech stock is up 7% to $3.18.

Why is this ASX 200 biotech stock jumping?

Investors have been bidding the company's shares higher this morning following the release of a couple of announcements.

The first one relates to the SECuRE trial, which is a Phase I/IIa theranostic trial for identification and treatment of participants with PSMA-expressing mCRPC using 64Cu/67Cu-SAR-bisPSMA.

It notes that 64Cu-SAR-bisPSMA is used to visualise PSMA-expressing lesions and select candidates for subsequent 67Cu-SAR-bisPSMA therapy.

According to the release, the ASX 200 biotech stock has completed the Dose Escalation Phase of the SECuRE trial.

Importantly, the Safety Review Committee (SRC) has recommended the trial progress to the Cohort Expansion Phase (Phase II) at the 8 GBq of 67Cu-SARbisPSMA dose level based on the safety and efficacy data demonstrated in every cohort of the study.

Executive chair, Dr Alan Taylor, commented:

The SECuRE trial continues to generate extraordinary results, and we thank our team, Principal Investigators, members of the SRC, and especially the participants who have contributed to the study.

Seeing the safety profile and already observing impressive signs of efficacy (despite the majority of participants only receiving a single cycle of 67Cu-SAR-bisPSMA and the primary focus of the Dose Escalation Phase being safety assessments), we are thrilled to progress to Phase II, the Cohort Expansion Phase, of our theranostic SECuRE trial.

Supply agreement

A second announcement reveals that the ASX 200 biotech stock has signed a new agreement with The University of Queensland (UQ) advanced imaging at the Australian Institute for Bioengineering and Nanotechnology (AIBN) for the supply of copper-64 (Cu-64 or 64Cu) isotope.

Management notes that this will support clinical trials with 64Cu-SAR-bisPSMA in Australia, offering its promising imaging agent to prostate cancer patients in need of novel diagnostic options. Additionally, the agreement will support the rollout of two theranostic pre-clinical programs, 64/67Cu-SAR-bisFAP and 64/67Cu-SARtrastuzumab.

Commenting on the news, Dr Taylor said:

We are pleased to continue building a successful Australian life-sciences story and benefiting Australian patients and their treating clinicians. We are proud to have been able to progress our technology from the benchtop at some of the most prominent institutes in Australia to Phase III trials at leading clinical sites in Australia and the US.

This agreement with the UQ AIBN not only builds on years of close ties between Clarity and the Australian scientific and clinical communities but also reflects our strong focus on continued partnership and synergies that can be derived from these important collaborations.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Healthcare Shares

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Healthcare Shares

Which small cap ASX share is jumping 10% on strong results

Investors have been bidding this stock higher today. But why?

Read more »

Cropped shot of an attractive young female scientist working on her computer in the laboratory.
Healthcare Shares

Why Macquarie forecasts 30-50% upside for these ASX All Ords healthcare stocks

Macquarie updated its target price on these three ASX All Ords healthcare stocks.

Read more »

A woman jumps for joy with a rocket drawn on the wall behind her.
Healthcare Shares

Guess which ASX 200 stock is jumping 10% on big news

This stock is catching the eye with a strong gain on Thursday. But why?

Read more »

a young woman holds her hand to her ear and leans sideways as if to listen to something that's surprising her as her eyes and her mouth are wide open.
Healthcare Shares

Down 15% since January, are Cochlear shares now a buy?

Let's see what analysts are saying about this blue chip.

Read more »

Green arrow with green stock prices symbolising a rising share price.
Healthcare Shares

Guess which popular ASX 200 stock is up nearly 60% in less than 2 months?

Investors who bought this ASX 200 stock in the recent dip have been strongly rewarded.

Read more »

A senior pharmacist talks to a customer at the counter in a shop.
Healthcare Shares

Are Sigma Healthcare shares a good buy now after the merger with Chemist Warehouse?

Sigma Healthcare shares have soared 154% in 12 months. Can this stellar run continue?

Read more »

Doctor doing a telemedicine using laptop at a medical clinic
Healthcare Shares

Up 34% since April, ASX 300 healthcare stock lifts off again today on new milestone

The ASX 300 healthcare stock has been on a tear since hitting one-year lows in April.

Read more »

Shot of a scientist using a computer while conducting research in a laboratory.
Healthcare Shares

Should I buy the dip on CSL shares?

A leading fund manager gives his verdict on the growth prospects for CSL shares.

Read more »