DALLAS, TX -- September 4th, 2024 -- Bio-Path Holdings, Inc. (Nasdaq:BPTH): Stonegate Capital Partners Updates Coverage on Bio-Path Holdings, Inc. (Nasdaq:BPTH) for Q2 2024.
BPTH Announces Plans to Expand beyond Oncology, Noting Potential Treatment Options for Obesity
- Ongoing Clinical Trials: The Company has various product candidates in different stages of development and continues to expect near-term results in key cohorts. Prexigebersen - Bio-Path has completed Phase 1 clinical trials for its lead candidate prexigebersen for acute myeloid leukemia (AML) and other blood cancers and is in the midst of a Phase 2 clinical trial for AML. The Company also recently reported that it is exploring potential treatment applications for obesity and obesity-related cancers with prexigebersen.
- BP1001-A – BP1001-A (prexigebersen with enhanced nanoparticle properties) has begun Phase 1 trials for the treatment of solid tumors and recently reported treating the first patient with a second, higher dose cohort in its Phase 1/1b clinical trial, continuing to demonstrate the drug’s favorable safety profile.
- BP1002 – Bio-Path is conducting two clinical trials for BP1002. A Phase 1 clinical trial of BP1002 in patients with advanced lymphoid malignancies is ongoing. Also, a Phase 1 is underway for patients with refractory/relapsed AML, including those who have relapsed from venetoclax-based treatment, and recently BPTH reported completion of the second dose cohort of the dose escalation portion of the trial.
- BP1003 - BP1003 is in pre-clinical development in a pancreatic patient-derived tumor model. In previous preclinical trials, it has been successful at penetrating pancreatic tumors.
- Owning the Breakthrough Technology: Bio-Path has developed a proprietary antisense and liposome delivery technology for DNA drugs, DNAbilize®, potentially solving the challenges of delivering these molecules directly to target cells without side effects. DNAbilize® is Bio-Path’s novel and patented method for producing antisense DNA therapeutics for a broad spectrum of indications, including cancer. This technology overcomes certain drawbacks and challenges of the more traditional methods.
- Strategic Relationships: The original technology platform was licensed from The MD Anderson Cancer Center; BPTH maintains a strong relationship with the Cancer Center as well numerous leading cancer centers across the US, with several hosting clinical trials.
- Strong IP Position: Bio-path has a strong IP position with composition of matter and method patents for antisense targets and manufacturing, which helps ensure technology preservation and offers protection against competitors.
- Cash Runway: The Company reported $4.0M as cash on hand as of 6/30/24; in Q224 the Company raised ~ $8.3M of funds (~$7.0M net) for working capital through various securities purchase agreements and its ATM offering agreements.
- Valuation: Using comparable companies’ EV/R&D multiple - we gauge that Bio[1]Path is significantly undervalued next to its peers with numerous drug candidates in the pipeline and its lead drug candidate quickly approaching Phase 2 milestones that could indicate potential for approval. See page 12 for further details.
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