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Can-Fite up 25% premarket on encouraging Namodenoson data

|About: Can-Fite BioPharma Ltd. (CANF)|By: , SA News Editor

Nano cap Can-Fite BioPharma (NYSEMKT:CANF) is up 25% premarket on average volume in response to encouraging preclinical data on Namodenoson (CF102).

Studies performed at Hadassah Medical Center in Jerusalem on fat mouse and diabetic rat models showed Namodenoson induced weight loss and normalized glucose levels.

The company has filed a patent application through the World Intellectual Property Organization for the use of Namodenoson as an anti-obesity drug.

Topline results from a Phase 2 study in patients with nonalcoholic fatty liver disease (NAFLD), with or without NASH, should be available this quarter.

A Phase 3 trial in certain liver cancer patients should launch soon.

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