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Pancreatic cancer treatment focused OncoSil Medical’s (ASX:OSL) shares stayed flat on Friday as the company revealed it had finally completed recruitment into its ‘PANCOSIL’ trial – despite first receiving ethics approval two years ago.
That, perhaps, is part of why investors kept their cash in their proverbial pockets on Friday.
What the company is really hoping to do with its trial is accelerate the journey to approvals of its OncoSil device, which ultimately deposits radioactive particles into pancreatic cancer growths in a bid to boost the effects of chemo.
The study is taking place in the Netherlands alongside the Amsterdam University Medical Centre; a total of 20 patients are now enrolled in the study.
Cynical market-watchers, perhaps, might suggest this sample size is too small to take anything to a final approval in most jurisdictions, possibly further explaining the lack of price action on Friday.
Still, at $1.20/sh, it appears the stock has hit a key psychological level. It’s worth noting the news didn’t lead to a sell-off, either.
“By developing CT-guided percutaneous administration under local anaesthesia, we will make OncoSil therapy more broadly applicable,” Amsterdam U Lead Investigator Prof. Marc Besselink said.
“The study has the potential to redefine the delivery model and bring meaningful benefits to both clinicians and patients.”
OSL last traded at $1.20/sh.
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