ValiRx enters 'very exciting' phase for cancer therapies

(Sharecast News) - ValiRx told investors on Thursday that its clinical-stage therapeutics had continued to demonstrate "significant potential" for addressing unmet medical needs in oncology.The AIM-listed biotech received confirmation earlier this week that principal investigators had approved and signed a clinical study report on VAL 401, the group's oral treatment of late-stage non-small cell lung adenocarcinoma.ValiRx revealed it was in detailed discussions regarding a pivotal phase three clinical trial on the drug, with first dosing expected to take place next year.In other developments, the VAL 201 phase one/two clinical trial for patients affected by hormone-sensitive and hormone-resistant prostate cancer has shown the compound was consistently high in safety and tolerability, with signs of efficacy throughout its clinical study.Chief executive Dr Satu Vainikka said: "Since the pharmaceutical industry is increasingly looking for novel new therapies in the oncology arena, I believe we are in a new and very exciting phase."As of 0900 BST, ValiRx shares had slumped 6.68% to 2.33p.