Biodexa Pharmaceuticals PLC (BDRX) stock experienced a sharp decline on Thursday, despite the release of positive patient updates from its ongoing MAGIC-1 study. The study is evaluating the efficacy of MTX110, a potential treatment for recurrent glioblastoma (rGBM), a highly aggressive form of adult brain cancer.
The updates revealed encouraging progression-free survival (PFS) and overall survival (OS) data. Patients in Cohort A, who had previously achieved impressive OS of 12 and 13 months, continued to demonstrate positive results. Patient #3 reached 13 months of OS with six months of PFS, while Patient #4 remained progression-free, achieving 12 months of both PFS and OS.
This news, while promising, did not translate into immediate stock gains. Instead, BDRX shares plummeted by over 30%, closing at $5.88. This stark reaction highlights the volatility of the pharmaceutical market and the often-unpredictable nature of investor sentiment.
Biodexa has previously reported promising results for MTX110 in treating Diffuse midline glioma (DMG), another rare and aggressive brain cancer. Phase 1 trials conducted at the University of California, San Francisco (UCSF) and Columbia University demonstrated significant survival benefits for DMG patients treated with MTX110 compared to historical survival rates.
The company emphasizes that the interim data from the MAGIC-G1 study suggests MTX110 could offer a new treatment option with real benefits in survival, particularly as it may be less toxic than traditional chemotherapy options. However, it’s important to note that these results are still preliminary, and further studies are needed to confirm the long-term efficacy and safety of MTX110.
The market’s reaction to the recent news highlights the complexities of the pharmaceutical industry, where positive clinical data does not always guarantee immediate stock success. As Biodexa continues to develop MTX110, investors will closely monitor its progress and future updates to gauge its potential for long-term success in the fight against brain cancer.