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Novogen advances development of Cantrixil; shares up 16% premarket

  • Thinly traded nano cap Novogen (NVGN) is up 16% premarket on increased volume in response to its announcement that it has retained CRO Novotech for its upcoming Phase 1 study assessing Cantrixil in patients with refractory/recurrent peritoneal malignancies with malignant ascites (build-up of fluid in the peritoneal cavity). The trial should commence in 2016.
  • Cantrixil's active ingredient is TRXE-002-1, which is encapsulated in a sugar compound called cyclodextrin. The company believes it can be used as an intracavity chemotherapeutic.

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