Why Bio-Path Holdings Shares Are Surging Higher Today

Bio-Path Holdings Inc BPTH is surging higher Tuesday after the company announced the U.S Food and Drug Administration reviewed and cleared its Investigational New Drug application for BP1002 in refractory/relapsed acute myeloid leukemia patients.

“AML patients that fail frontline venetoclax-based therapy have very poor prognosis with a median overall survival of less than three months and a novel treatment modality is urgently needed for such patients," said Peter Nielsen, president and CEO of Bio-Path Holdings.

"Preclinical studies indicate that the BP1002 and decitabine combination is effective against venetoclax-resistant cell lines, suggesting that the BP1002 and decitabine combination therapy may provide benefits to patients who have relapsed from venetoclax-based treatment,” Nielsen added.

Bio-Path Holdings is a clinical and preclinical stage RNAi nanoparticle drug development company focused on developing a portfolio of targeted nucleic acid cancer drugs.

Price Action: Bio-Path Holdings has traded as high as $24.34 and as low as $3.12 over a 52-week period.

At last check Tuesday, the stock was up 22% at $6.93.