Benzinga | Oct 6, 2020 07:43AM EDT

Can-Fite Announces Independent Data Monitoring Committee Recommended Co. Continue With Phase III Psoriasis Study, Recommended Not To Continue With Rheumatoid Arthritis Study

* Independent Data Monitoring Committee (IDMC) conducted a pre-planned interim analysis of the Company's Phase III Comfort(tm) trial of Piclidenoson for the treatment of psoriasis and recommended to continue with this psoriasis study

* A separate IDMC for the pre-planned interim analysis of the Acrobat(tm) Rheumatoid Arthritis (RA) Phase III study recommended not to continue this study. The Company plans to undertake a detailed analysis of the data of the RA study and decide on the next steps.

* Can-Fite BioPharma Ltd. (NYSE:CANF) (TASE:CFBI), a biotechnology company advancing a pipeline of proprietary small molecule drugs that address inflammatory, cancer and liver diseases, today announced that the Independent Data Monitoring Committee (IDMC) which conducted an interim analysis of the Company's Phase III Comfort(tm) trial of Piclidenoson in the treatment of moderate-to-severe plaque psoriasis, recommended, based on the positive data, to continue the study with the original sample size and drop one dose group. This means that an optimal dose has been found and that the study can be concluded earlier than has been originally planned. A separate IDMC for the interim analysis of the Acrobat(tm) Rheumatoid Arthritis Phase III study recommended not to continue this study. The Company plans to undertake a detailed analysis of the data of the RA study and decide on the next steps. Can-Fite's Comfort(tm) Phase III psoriasis study is designed to establish Piclidenoson's superiority compared to placebo and non-inferiority compared to Apremilast (Otezla(r)) in patients with moderate to severe plaque psoriasis. The randomized, double blind study is being conducted in Europe, Israel, and Canada. Patients were randomized into four groups: 2 mg Piclidenoson, 3 mg Piclidenoson, Otezla(r), and placebo. The study's primary endpoint is the proportion of patients who achieve a PASI score response of ?75% (PASI 75) vs. placebo at week 16. The secondary endpoints include non-inferiority to Otezla(r) on weeks 16 and 32. "While the interim analysis data continue to be blinded to Can-Fite, and the results have only been available to the IDMC, their recommendation to continue the Phase III psoriasis study and also to drop one of the dosing groups are highly encouraging. There is a real market need for an efficacious and safe oral drug for this devastating disease. We thank the members of both of the IDMCs for their diligence in reviewing our Phase III interim data and for making their recommendations." stated Can-Fite CEO Dr. Pnina Fishman. The majority of costs associated with the Phase III Comfort(tm) study were previously paid, and based on the Company's current cash and its anticipated uses, the Company believes it has sufficient runway to cover the completion of this study. Piclidenoson has been out-licensed for the indication of psoriasis in Canada, South Korea, Spain, Austria, Switzerland, Hong Kong, Macau, Taiwan, and China. According to iHealthcareAnalyst, the psoriasis therapeutic market is estimated to reach $11.3 billion by 2025.