Story
Tiziana Life Sciences Stock Jumps on Multiple Sclerosis Trial Partnership
Summary
Shares of Tiziana Life Sciences (NASDAQ: TLSA) surged after the company announced a memorandum of understanding to launch a new clinical trial for its multiple sclerosis drug, foralumab, in Saudi Arabia.
Shares of Tiziana Life Sciences (NASDAQ: TLSA) jumped 15.6% in premarket trading Thursday after the biotechnology firm announced a new partnership to conduct a clinical trial for its multiple sclerosis (MS) treatment. The company signed a memorandum of understanding to collaborate with Saudi Arabia-based King Abdullah International Medical Research Center (KAIMRC).
Partnership and Trial Details
Tiziana Life Sciences will partner with KAIMRC and the Foundation for Neurologic Diseases to evaluate a combination therapy for patients with relapsing-remitting multiple sclerosis (RRMS), according to a company announcement. The memorandum was signed Wednesday at the Riyadh Global Medical Biotechnology Summit.
The planned trial will assess Tiziana’s intranasal foralumab, a fully human anti-CD3 monoclonal antibody, used in conjunction with existing anti-CD20 therapy. The study will focus on RRMS patients who are responding poorly to the anti-CD20 treatment alone. Tiziana has stated that foralumab has been shown to reduce neuroinflammation in three prior clinical studies.
AdStrategic Importance
This collaboration marks an expansion of Tiziana's clinical pipeline into a new patient population. CEO Ivor Elrifi noted that the partnership targets a different type of MS than the company's ongoing program for non-active Secondary Progressive MS (na-SPMS).
Investors are also awaiting results from the company's blinded Phase 2 trial for na-SPMS, which Tiziana said are expected in October. The new trial adds another potential pathway for its lead immunomodulation candidate, foralumab.
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