Completed enrollment of second and third cohorts in Phase 1 clinical study of SBP-101; first-in-class proprietary compound designed specifically for pancreatic disease
Uplisted to OTCQB and secured DTC eligibility
MINNEAPOLIS, Nov. 10, 2016 (GLOBE NEWSWIRE) -- Sun BioPharma, Inc. (OTCQB:SNBP), a biopharmaceutical company developing disruptive therapies for the treatment of patients with pancreatic diseases, today released financial results for its third quarter ended September 30, 2016 and provided an update on its therapeutic candidate's clinical progress. "This has been a busy and productive quarter for our team," said Michael Cullen, Executive Chairman. "Our lead therapeutic candidate SBP-101 has made significant clinical trial progress. In addition, we are encouraged by the enthusiasm for the Phase 1 trial at our study sites as evidenced by the rapid enrollment in the trial's third patient cohort and the identification and screening of potential patients for the fourth cohort. The combination of this rapid enrollment with the earlier DSMB review is accelerating the pace of the study. As a result, we could complete the Phase 1a study by Q2 2017, which is significantly earlier than we had anticipated when the trial started." "From a corporate perspective, listing our shares on the OTCQB is a significant achievement for Sun BioPharma and will help raise the awareness of our progress as well as provide the potential for enhanced shareholder liquidity," commented David B. Kaysen, President and CEO. "In addition, our shares can now be traded electronically, which expands the types of investors who can now consider our shares for investment. These efforts complement the improvements we've made in our corporate structure and the continued progress in our Phase 1 clinical study of SBP-101 for pancreatic cancer." As previously announced on August 15, 2016 and October 3, 2016, the Company's Data Safety Monitoring Board (the "DSMB"), completed its independent safety review of the data from the second and third cohorts, respectively in the Company's Phase 1 clinical study. In both cases, based upon their review of the data, the DSMB approved the Company's progression to the next patient cohort in the dose escalation phase of this study evaluating the safety of SBP-101 in patients previously treated for pancreatic cancer. The Company is currently enrolling patients in the fourth cohort of this study, which was designed to enroll up to eight cohorts in the dose escalation phase.