HOUSTON - Bio-Path Holdings, Inc. (NASDAQ:BPTH), a micro-cap biotech firm with a market capitalization of just $2.9 million, announced results from its preclinical studies on Thursday, suggesting BP1001-A could be a promising treatment for obesity and related metabolic disorders in Type 2 diabetes patients. According to InvestingPro analysis, the company's stock has seen significant volatility, trading 94% below its 52-week high of $12.
The studies focused on BP1001-A's ability to downregulate growth factor receptor-bound protein 2 (Grb2), which is associated with increased insulin sensitivity and lower blood glucose levels. The findings indicated that BP1001-A reduced Grb2 protein expression in myoblast cells and enhanced insulin-induced metabolic activities in myoblast and hepatoma cells. These outcomes suggest that BP1001-A may improve the insulin/phosphoinositol-3 kinase (PI3K)/AKT pathway's function, which is crucial for insulin sensitivity. InvestingPro data reveals the company maintains a positive cash position relative to debt, though its overall financial health score remains weak at 1.47 out of 10.
Peter H. Nielsen, President and CEO of Bio-Path, highlighted the unmet need for effective obesity treatments in Type 2 diabetes patients, given the limited efficacy of current weight loss medications in this demographic. He expressed optimism about the potential of BP1001-A, based on these initial preclinical results.
The company has commenced animal studies to further explore BP1001-A's efficacy. Pending positive outcomes, Bio-Path anticipates launching a first-in-human Phase 1 clinical trial in 2025 to evaluate the drug's safety, pharmacokinetics, and dosing for potential pivotal trials.
Bio-Path's proprietary DNAbilize® technology underpins their development pipeline, including BP1001-A, a modification of their lead candidate prexigebersen, currently in Phase 2 for blood cancers and Phase 1/1b for solid tumors. The company is also evaluating BP1002 for blood cancers and solid tumors and preparing an IND application for BP1003, a STAT3 inhibitor.
The company's statements are forward-looking and subject to risks and uncertainties, including the need for additional capital, the success of clinical development, and maintaining intellectual property rights. These statements do not guarantee future performance and are based on current management expectations. Notably, InvestingPro analysis shows analysts have set a $12 price target for the stock, though they don't expect profitability this year. For deeper insights into Bio-Path's financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers, along with 10+ additional ProTips and detailed financial metrics.
This report is based on a press release statement from Bio-Path Holdings, Inc.
In other recent news, Bio-Path Holdings, a pharmaceutical company, is facing potential delisting from the Nasdaq due to its stock price not meeting the minimum bid price requirement. The company has until June 10, 2025, to regain compliance. In a strategic shift, Bio-Path is emphasizing the potential of its drug candidate BP1001-A for the treatment of obesity and Type 2 diabetes, discontinuing Phase 1 trials for BP1002 due to patient enrollment challenges. The company reported a net loss of $2.1 million for the third quarter of 2024, showing a decrease from the $3.2 million loss reported in the same period last year. Additionally, during its annual meeting, shareholders approved an amendment to increase the number of shares available under the Bio-Path Holdings, Inc. 2022 Stock Incentive Plan and ratified the appointment of Ernst & Young, LLP as the independent auditor. Looking ahead, Bio-Path is planning to reveal data from a solid tumor study early next year and is enthusiastic about entering the obesity and metabolic disease space with BP1001-A. These developments are part of Bio-Path's recent activities in the pharmaceutical industry.
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