Strong Cash Position Enhances Ability to Develop Drug Candidates to Reach Value Creating Milestones
NEW YORK, NY--(August 05, 2015) - Actinium Pharmaceuticals, Inc. (ATNM) ("Actinium" or "the Company"), a biopharmaceutical company developing innovative targeted payload immunotherapeutics for the treatment of advanced cancers, announced today that it has issued a letter to shareholders providing an update on the progress it has made to advance its two drug candidates, Iomab-B and Actimab-A, towards commercialization. With a substantially stronger balance sheet following financing activity that yielded cash in excess of $25 million at June 30, 2015, the Company is well positioned to propel forward its research activities and transition its key programs with Iomab-B and Actimab-A through value creating milestones.
Highlights of the letter include:
- Successfully completed the third cohort of AML (Acute Myeloid Leukemia) patients in Phase 1/2 trial for Actimab-A, in which patients received two doses of Actimab-A at 1.5 μCi/kg per dose compared to a lower dose of 1.0 μCi/kg that patients received in Cohort 2. Two out of three Actimab-A treated patients achieved complete remission in Cohort 3, with different degrees of hematological recovery (CRi). By comparison, one patient achieved Cri in Cohort 2.
- Launched the enrollment process for Cohort 4 for Actimab-A and activated more medical centers to facilitate patient enrollment. With encouraging results observed as Phase 1 progressed, the Company anticipates strong support from this network as it enrolls patients for Phase 2.
- Resolved an unexpected manufacturing problem through increased oversight of the production process. This has also generated valuable intellectual property, know-how and trade secrets that will further protect the Iomab-B process.
- Submitted a request to the FDA (Food and Drug Administration) for a pre-IND meeting for Iomab-B. The FDA typically responds within 60 days of receiving an application.
- Ramped up business development efforts to find suitable partners for both products to support their development and future commercial launch.
To read the Letter to Shareholders in full, please visit: http://ir.actiniumpharma.com/shareholder-letters
About Actinium Pharmaceuticals
Actinium Pharmaceuticals, Inc. is a New York, NY based biopharmaceutical company that develops innovative alpha particle immunotherapeutics based on its proprietary platform for the therapeutic utilization of alpha particle emitting actinium-225 and bismuth-213 radiopharmaceuticals in association with monoclonal antibodies.
Forward-Looking Statement for Actinium Pharmaceuticals, Inc.
This news release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and involve risks and uncertainties, which may cause actual results to differ materially from those set forth in the statements. The forward-looking statements may include statements regarding product development, product potential, or financial performance. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Actinium Pharmaceuticals undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
David Gould, MD
SVP, Finance and Corporate Development
Actinium Pharmaceuticals, Inc.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer