Benzinga | May 6, 2021 10:46AM EDT

Fusion Pharma Shares Move Higher After Trial Collab With Merck For IGF-1R-Expressing Cancer Study

* Fusion Pharmaceuticals Inc (NASDAQ: FUSN) has entered into a clinical trial collaboration with Merck & Co (NYSE: MRK) to evaluate Fusion's lead candidate, FPI-1434, in combination with Merck's Keytruda in patients with solid tumors expressing insulin-like growth factor 1 receptor (IGF-1R).

* The planned Phase 1/2 combination trial will evaluate the safety, tolerability, and pharmacokinetics of FPI-1434 in combination with pembrolizumab.

* The study is expected to initiate approximately six to nine months after achieving the recommended Phase 2 dose in the ongoing Phase 1 study of FPI-1434 monotherapy.

* Under the terms of the agreement, Fusion will sponsor the study, and Merck will supply Keytruda.

* FPI-1434 is a radioimmunoconjugate designed to target and deliver alpha emitting medical isotopes to cancer cells expressing IGF-1R, a receptor that is overexpressed on many tumor types.

* Price Action: FUSN shares are up 2.16% at $8.98 on the last check Thursday.