TEL AVIV, Israel, Aug. 15, 2016 (GLOBE NEWSWIRE) -- VBL Therapeutics (VBLT), a clinical-stage biotechnology company focused on the discovery, development and commercialization of first-in-class treatments for cancer, today reported financial results and provided a business update for the second quarter and six month period ended June 30, 2016.
“The second quarter of 2016 was marked by further progress in the clinic with our lead oncology product candidate, VB-111, which has shown evidence of benefit in multiple tumor types,” said Dror Harats, Chief Executive Officer of VBL Therapeutics. “The positive results we announced during ASCO in platinum resistant ovarian cancer and in rGBM add to the growing body of evidence suggesting that VB-111 has potent anti-tumor activity, and importantly, that it appears to be extending survival in these difficult to treat patients.”
“Our ongoing Phase 3 randomized controlled GLOBE study of VB-111 in combination with Avastin is proceeding on track,” continued Dr. Harats. “The trial, which is enrolling patients in the U.S., Canada and Israel, is covered by a Special Protocol Assessment (SPA). Our goal is to conduct an event-driven interim analysis according to the study protocol, and we think this will likely happen in the first half of 2017. We also strengthened our balance sheet during the second quarter, with the successful completion of a common stock offering, raising net proceeds of approximately $21.9 million.”
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