Why Is Brain Cancer Focused-Biodexa Pharmaceuticals Stock Trading Higher Today?

Biodexa Pharmaceuticals Plc BDRX shares are trading higher after the company filed an SEC Schedule 13G filing on Monday.

The filing showed that Bigger Capital Fund reported a 9.9% stake in the company with 89.11 million shares and 120.82 million warrants.

Biodexa Pharmaceuticals is a clinical-stage biopharmaceutical company developing a pipeline of products aimed at primary and metastatic cancers of the brain.

According to data from Benzinga Pro, Biodexa Pharmaceuticals shares traded higher on a strong session volume of 6.698 million, with an average volume of 872.519K.

Last week, Biodexa Pharmaceuticals provided survival updates from its MAGIC-G1 study of MTX110 in patients with recurrent glioblastoma being conducted at Duke Cancer Institute and Baptist MD Anderson Cancer Center.

• Patient #1 received weekly infusions of 60µM of MTX110 and survived for 12 months from the start of treatment (OS=12).
•  Patients #2, 3, and 4 each received weekly infusions of 90µM of MTX110, the expected optimum dose, and remain in the study.

Recently, Biodexa Pharmaceuticals announced that the U.S. Patent and Trademark Office allowed U.S. patent application No. 16/546,595 titled “Prevention of Pancreatic Cell Degeneration” for Tolimidone, with a potential utility in the treatment of Type 1 Diabetes.

BDRX shares were up by 30% in the premarket today.

Price Action: BDRX shares are up 13.80% at $1.65 on the last check Tuesday. 

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