Why Starpharma (ASX:SPL) soared over 40%, but Firebrick crashed over 70%
Nick Sundich, September 13, 2023
It was a good morning to be a Starpharma (ASX:SPL) shareholder, but a bad morning to be a Firebrick Pharma (ASX:FRE) shareholder. All because of clinical trial data.
What are the Best stocks to invest in right now?
Check our buy/sell stock tips
Good data from Starpharma
Starpharma announced interim results from a Phase 1/2 clinical trial of its anti-cancer drug DEP irinotecan (a nanoparticule formulation of irinotecan, which is one of the world’s most used cancer drugs) and that it would be presented at an upcoming conference next month in the US.
The company reported the data showed durable signs of efficiency against colorectal cancer, but also ovarian cancer. Although the data has only been on 20 patients to date, all of them are showing positive results with no gastrointestinal events or cholinergic toxicity. And keep in mind all of these patients had previously exhausted all available treatment options.
But bad data from Firebrick Pharma
Firebrick Pharma on the other hand, released Phase 3 trial of its Nasodine nasal spray as a treatment for the common cold.
The company told shareholders that the trial did not meet its primary endpoint – in other words it did not work (at least not as well as the placebo, which was sterile water, something that does not even have antiviral properties).
CEO Dr Peter Molloy didn’t hide his shock, telling shareholders ‘they are scientifically confounding and completely at odds with everything we know about povidone-iodine and the results of the first Phase 3 trial’.
The company told shareholders it would investigate the results to see if there was any systemic error that caused these results and that it continued to believe in Nasodine. Investors don’t appear to be keeping the faith, however, judging by the share price crash of near-80% by Wednesday afternoon!
Stocks Down Under Concierge is here to help you pick winning stocks!
The team at Stocks Down Under have been in the markets since the mid-90s and we have gone through many ups and downs. We have written about every sector!
Our Concierge BUY and SELL service picks the best stocks on ASX. We won’t just tell you what to buy – we give you a buy range, price target and stop loss level in order to maximise total returns. And we will only recommend very high conviction stocks where substantial due diligence has been conducted.
Our performance is well ahead of the ASX200 and All Ords.
You can try out Concierge…for FREE.
GET A FREE TRIAL TO CONCIERGE TODAY
There’s no credit card needed – the trial expires automatically.
Blog Categories
Get Our Top 5 ASX Stocks for FY25
Recent Posts
Paradigm Biopharmaceuticals (ASX:PAR): An osteoarthritis solution that could hit the market within 3 years
If you thought the were plenty of treatments for osteoarthritis already, Paradigm Biopharmaceuticals (ASX:PAR) is a company that has something…
Cann Group (ASX:CAN): Successfully producing GMP medicinal cannabis since 2017
Cann Group (ASX:CAN) is the first company in Australia that was issued a medicinal cannabis license, granted by the Australian…
CET1 ratio: If you invest in ASX bank stocks, here’s why it is an important metric to know
In this article we look at the Common Equity Tier 1 (CET1) ratio – what it is and why it…