[Special Stock] CanariaBio Hits Upper Limit Following Global Phase 3 DSMB Review Approval

[Asia Economy Reporter Lee Jung-yoon] Canaria Bio recorded a daily upper limit price on the 26th.

As of 1:50 PM on the same day, Canaria Bio was trading at 20,150 KRW, up 30.00% compared to the previous day.

Canaria Bio announced that the global Phase 3 clinical trial of Oregovomab, conducted at 152 sites across 16 countries targeting ovarian cancer patients, has passed the review by the DSMB (Data Safety Monitoring Board).

The global Phase 3 clinical trial data is reviewed every six months by the DSMB. The DSMB has the authority to halt the trial not only in cases of serious safety issues but also if it determines there is no efficacy.

At the DSMB meeting held on the 21st, Canaria Bio was advised to continue the trial. The next DSMB review is scheduled for March 2023. Additionally, interim results are expected to be announced in the third quarter of next year.

Oregovomab is a new drug that showed a progression-free survival (PFS) of 42 months in the Phase 2 clinical trial targeting ovarian cancer patients, which is 30 months longer than the existing standard treatment.