Cyclacel Pharmaceuticals Reports First Quarter 2018 Financial Results

Cyclacel Pharmaceuticals (NASDAQ:CYCC) a biopharmaceutical company developing oral therapies that target the various phases of cell cycle control for the treatment of cancer and other serious disorders, today reported financial results and business highlights for the first quarter 2018.

As quoted in the press release:

The Company’s net loss applicable to common shareholders for the three months ended March 31, 2018 was $1.4 million.  As of March 31, 2018, cash and cash equivalents totaled $21.7 million.

“Two presentations at the recent American Association for Cancer Research Annual Meeting highlighted CYC065, our lead CDK inhibitor drug candidate, confirming a strong rationale for advancing its clinical development in certain liquid and solid cancers,” said Spiro Rombotis, President and Chief Executive Officer of Cyclacel. “The oral presentation confirmed proof of mechanism in patients with advanced solid tumors. Durable suppression of Mcl-1 in 11 of 13 patients was demonstrated for the first time in the literature after a single dose at the recommended Phase 2 level.  In addition, anticancer activity was observed in patients with MYC amplified tumors, confirming the promise of a CDK inhibition strategy against this very difficult to treat tumor type. The poster presentation demonstrated preclinical synergy of CYC065 with venetoclax, supporting the Company’s plans to pursue a venetoclax combination study in patients with relapsed/refractory chronic lymphocytic leukemia, or CLL. We have also achieved another important objective by submitting an IND for CYC140, an internally-discovered, novel inhibitor of Polo-like-kinase 1, or PLK1.”

Click here to read the full press release.