Bio-Path Shares on the Warpath

By Chris Lange Updated Jan 11, 10:23AM EST · Published Mar 7, 1:15PM EST

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Bio-Path Shares on the Warpath — © Thinkstock

Bio-Path Holdings Inc. (NASDAQ: BPTH) shares are on a rampage, with its second day of more than doubling. Shares actually were halted at multiple points during the day for volatility spikes. This is all coming after the firm posted solid results from a late-stage cancer trial.

This meteoric rise has many investors excited as this was only a $2 stock at the end of January. And excluding these past few days, the stock actually was down 28% in just January and February alone.

It’s very possible that all this hype around the stock will have management considering a secondary offering to capitalize on this massive move in the shares.

As for the late-stage trial, Bio-Path announced a clinical update to the previously reported interim analysis from the Phase 2 trial of prexigebersen (BP1001) for the treatment of acute myeloid leukemia (AML).

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The study evaluated the efficacy and safety of prexigebersen in conjunction with low dose cytarabine (LDAC), a therapeutic regimen well-established in treatment of AML patients who cannot or elect not to be treated with more intensive chemotherapy.

In April 2018, Bio-Path completed an initial interim analysis of 17 evaluable patients and these results showed a promising safety and efficacy profile with 47% of patients having a response comprised of four complete response (CR) patients.

Recently, the data from the 17 evaluable patients was updated, and following a meeting with the principal investigators of the study, those results now show that the efficacy profile has improved to where 11 (65%) of the 17 evaluable patients had a response, including five (29%) who achieved CR (including one CRi) and one morphologic leukemia-free state (MLFS), and six stable disease responses, including two patients who had greater than a 50% reduction in bone marrow blasts. Importantly, through investigation by the principal investigators, it was observed that 68% of these patients were secondary AML patients, an extremely difficult class to treat.

Shares of Bio-Path were last seen up about 168% at $32.17, in a 52-week trading range of $1.61 to $73.52. The consensus price target was $15.00.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.