XOMA Corp (NASDAQ:XOMA) made public the data from its XOMA 129, which is a lead compound of the XMetD antibody fragment program. The data was presented at the Endocrine Society’s Annual Meeting – ENDO 2016.
Promising response
The data is related to the severe acute hypoglycemia, which is a known complication faced by diabetic patients. It is important to contain the impact of this disease through treatment so as to prevent mortality and toxicity.
The company’s Senior Vice President, Research, and Development and Chief Medical Officer, Paul Rubin, explained that XOMA 129 binds itself to allosteric site present on the insulin receptor. XOMA 129 is developed with the objective of rapid onset without a prolonged duration of action, which is considered as two important clinical requirements for reversing acute hypoglycemia.
Rubin continued that the data from XOMA 129 displays both the rapidity of effect as well as clearance traits, which brings it closer to establishing as a novel treatment for hypoglycemic events.
Delisting risk
The presentation showed the efficacy of XOMA 129 in decreasing the insulin activity in mammalian cells, minipig insulin receptor, and rat in a dose-dependent manner. Also, intravenous administration of the drug revealed that it stabilised blood glucose levels whenever such levels dropped below normal levels, thus, preventing hypoglycemia. On the other hand, the administration of XOMA 129 in normal minipigs through intra-muscle showed marked elevation in the blood glucose levels, which lasted for several hours and confirmed the activity in mammals.
While this is a notable development for the XOMA, it continues to reel under the risk of delisting. The company had filed an SEC filing in March, reporting that it has received a notice of delisting from the NASDAQ Stock Market LLC. The company has time until September 12, 2016, to comply with the Minimum Bid Price requirement of the exchange, which will ensure continuity of its listing on the exchange.
