Telik's Antitumor Drug Shows Positive Results

Biotech firm Telik ( TELK) said its new chemotherapeutic drug showed evidence of clinical benefit in several cancer types during Phase I tests.

The California-based company said its new drug, TLK286, a small antitumor drug with a "smart" action mechanism triggered by an enzyme present in many human cancers, was well-tolerated and indications of antitumor activity were observed.

In a press release, Telik said, "Most chemotherapeutic drugs cause toxicities from which patients must recover before subsequent doses. TLK286 administration has been associated with generally mild toxicities, most of which has been classified as Grade 1 or 2 in severity."

In the Phase I tests, 37 patients were treated with escalating doses of TLK286 on both weekly and once-every-three-week schedules for extended periods "without evidence of cumulative toxicity."

Shares of Telik closed at $11.22 Friday before the news release.

More from Technology

WATCH LIVE: Facebook CEO Mark Zuckerberg Appears Before European Parliament

WATCH LIVE: Facebook CEO Mark Zuckerberg Appears Before European Parliament

10 Big Tech Companies Are Spending $100 Billion in 2018 to Dominate Even More

10 Big Tech Companies Are Spending $100 Billion in 2018 to Dominate Even More

ACLU Asks Amazon to Halt Sale of Facial Recognition Software

ACLU Asks Amazon to Halt Sale of Facial Recognition Software

Listen: Smart Technologies That Could Lure Millennials Back to Motorcycle Riding

Listen: Smart Technologies That Could Lure Millennials Back to Motorcycle Riding

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around