The 180-day lock-up period following Actuate Therapeutics' (NASDAQ: ACTU) initial public offering expires today, marking a significant milestone for the clinical-stage biopharmaceutical company focused on developing treatments for difficult-to-treat cancers.
Promising Phase II Results in Pancreatic Cancer
Actuate's lead candidate, Elraglusib, delivered encouraging interim results in December from the Phase II trial (Actuate-1801 Part 3B) evaluating its combination with gemcitabine/nab-paclitaxel (GnP) for first-line treatment of metastatic pancreatic ductal adenocarcinoma. The combination therapy demonstrated statistically significant improvements in key efficacy measures compared to GnP alone, including enhanced one-year survival rates and median overall survival. Additionally, the treatment showed superior Objective Response Rates and Disease Control Rates.
Development Pipeline and Regulatory Strategy
Building on these positive results, Actuate Therapeutics plans to meet with the FDA in the first half of 2025 to present topline data and outline the path forward, including discussions about a proposed Phase III registration trial. The company is simultaneously advancing Elraglusib in other indications, with a Phase I/II trial ongoing in refractory pediatric malignancies, including Ewing sarcoma. This study is expected to yield topline data in the second half of 2025.
Expanding Treatment Options
The company has developed multiple formulations of Elraglusib, including an oral tablet version. A Phase I study (Actuate-2401) is being planned to determine the maximum tolerated dose and recommended Phase II dose for the oral formulation in patients with advanced, refractory adult cancers, pending future funding.
Financial Position and Market Performance
As of September 30, 2024, Actuate maintained a cash position of $13.5 million. The company's shares have traded between $5.51 and $11.73 since their Nasdaq Global Market debut at $8.00 per share on August 13, 2024. The stock closed at $8.79 in recent trading, reflecting ongoing market interest in the company's development programs.
