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Biodexa (BDRX) Stock Rises During Extended Session After Nasdaq Listing News

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The stock value of Biodexa Pharmaceuticals Plc (NASDAQ: BDRX) saw a significant increase, with shares rising 31.74% to $6.60 during extended trading hours. The disclosure of a noteworthy breakthrough pertaining to the company’s adherence to listing standards on the Nasdaq Stock Market preceded this increase.

Biodexa Succeeded To Get Nasdaq Compliance Extension

Biodexa’s request for an extension to achieve the Nasdaq Listing Rules’ minimum bid price requirement of $1.00 per share has been granted by the Nasdaq Hearings Panel. With this extension, the business has until October 31, 2024, to prove compliance. Biodexa must demonstrate that it can sustain a closing bid price of at least $1.00 per share for a continuous 20 trading days in order to meet this condition.

BDRX Shared Progress in Clinical Trials

In addition to its stock market developments, Biodexa recently provided an update regarding its ongoing Phase 1 clinical study of MTX110 for patients with recurrent glioblastoma. Known as the MAGIC-G1 study, this open-label trial aims to evaluate the feasibility and safety of intermittent infusions of MTX110 administered through convection-enhanced delivery (CED) using an implanted refillable pump and catheter.

MTX110 Trial Results: Patient Status and Survival Rates

As of October 2023, Biodexa announced the successful recruitment of four patients into Cohort A of this study. The current status of the patients is as follows: Patients #1 and #2 have unfortunately passed away, with overall survival (OS) durations of 12 and 13 months, respectively.

Meanwhile, Patients #3 and #4 continue their post-study follow-up, with Patient #3 exhibiting a progression-free survival (PFS) of six months and an OS of 13 months. Patient #4, who has not yet shown confirmed disease progression, has maintained a PFS and OS of 12 months since the commencement of treatment.

Biodexa Pharmaceuticals is poised for a pivotal period as it navigates compliance requirements while advancing its clinical trials, particularly in the challenging area of glioblastoma treatment. The positive stock performance reflects investor confidence in the company’s strategic direction and ongoing research endeavors.

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