Genspera Inc (OTCMKTS:GNSZ) reported its financial numbers for the quarter ending June 31, 2015 on August 6. The company provided the corporate update in order to highlight its extensive organizational development and clinical progress in the second quarter of 2015.
The highlights
Genspera continues to design conventional concepts to conceive, design, and advance novel cancer treatments. Its innovative technology platform integrates a powerful, plant-derived cytotoxin with a prodrug delivery system that offers targeted release of drug within tumors. Craig Dionne, Ph.D., the CEO said that 2Q2015 has been quite busy and extremely significant for company’s future.
The management view
With impressive Phase 2 clinical results for hepatocellular carcinoma, plus meeting and surpassing clinical milestones for Genspera underway Phase 2 glioblastoma studies which resulted in increased patient enrollment, the management believes the mipsagargin value is being sent strong. It is a thrilling time for company and management looks forward to underway communications with primary audiences.
The developments
On July 16, the U.S. Court of Appeals gave verdict in favor of Genspera Inc. In a per curiam order, the Federal Circuit retained the verdict of the U.S. District Court granting summary judgment in company’s favor in two consolidated lawsuits pertaining to the formulation of two patents of Genspera.
The district court released a declaratory verdict that Dr. Annastasiah Mhaka will not be a credited inventor of the two patents under consideration. Also, the court granted summary verdict in regarding to state law tort claims against the company and its founders, Dr. Sam Denmeade and Dr. John Isaacs. The company released final results from its Phase 2 liver cancer study in which a total of 25 patients were cured with mipsagargin.
In last trading session, the stock price of Genspera Inc (OTCMKTS:GNSZ) gained more than 17% to close the trading session at $0.847. The gains came at a share volume of 1.9 million compared to average monthly share volume of 96,820.
