EVG.L Share News (EVG)

(Alliance News) - Evgen Pharma PLC on Thursday expressed confidence for the year ahead as it continued to progress on the development of its clinical programmes.

Ahead of its annual general meeting, the clinical stage drug development company said it continues to make a "significant" progress in establishing Evgen as a world leader in sulforaphane-based pharmaceuticals.

Back in March the AIM-listed company announced that its lead product, SFX-01, had met its primary endpoints in an open label second phase trial of SFX-01 in metastatic breast cancer. The trial data confirmed that SFX-01 is a "highly promising" anti-cancer agent with an excellent tolerability profile.

"We are making good progress in planning the next clinical trial in metastatic breast cancer, focusing on the anticipated use of SFX-01 as a second line therapy where the market opportunity is substantial," said Evgen Chair Barry Clare.

"The announcement of the final read-out of our phase two trial of SFX-01 in subarachnoid haemorrhage remains in line with earlier guidance of the third quarter or early fourth quarter of this calendar year. We are excited by the outcome of this blinded study in an indication where there has been no significant clinical advance in more than 20 years," added Clare.

Looking ahead, Evgen said its near-term news flow includes the announcement of secondary data and additional insights from the metastatic breast cancer trial at the ESMO 2019 conference in Barcelona, Spain, in the early autumn.

In addition, the company said the GBP5 million equity placing completed earlier in the year has given it the financial resources to support the continued development of its programmes and provides Evgen with confidence in the year ahead.

Evgen shares were trading 0.1% higher on Thursday in London at 17.65 pence each.