The Avacta Group Plc (LON: AVCT) share price barely moved after announcing that it would present a poster entitled ‘AVA3996, a novel pre|CISION™ medicine, targeted to the tumor microenvironment via Fibroblast Activation Protein-alpha (FAP-a) mediated cleavage’, at the American Association for Cancer Research (AACR) 2023 Annual Meeting.
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The poster describes the data and pre-clinical rationale for developing Avacta’s second pre|CISION™ candidate, AVA3996, a tumour microenvironment-activated proteasome inhibitor. Investors barely reacted to the news because despite the promising nature of Avacta’s pre|CISION™ platform, the poster is about a pre-clinical drug.
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The AACR meeting is scheduled at the Orange County Convention Center, Orlando, Florida, on 16 April 2023. AVA3996 uses Avacta’s pre|CISION™ platform to improve proteasome inhibitors’ therapeutic index and utility in tumours with high FAP levels, including both solid and haematological tumours.
AVA3996 could deliver efficacious levels of the proteasome inhibitor warhead directly to the tumour microenvironment while reducing systemic exposure. Lower systemic exposure could lead to lower associated toxicities, such as peripheral neuropathy.
Avacta’s CEO, Alastair Smith, will provide a video presentation overview for investors explaining the data presented in the poster, which will be posted on the company’s website on 17 April 2023.
Investor interest in Avacta shares remains high, although the company’s share price has recently erased all of the gains it had made from mid-December 2022 to early February 2023 and is now trading almost flat for the year. Still, Avacta’s shares are up over 123% in the past twelve months despite the recent pullback.
Avacta remains a solid play for investors interested in backing a company with promising drug candidates due to its pre|CISION™ platform, a revolutionary drug discovery and development platform. The latest decline could be a perfect buying opportunity for investors.
However, there are no guarantees that the Avacta share price will not decline further. Hence, investors should always have a stop-loss order on their positions.
*This is not investment advice.
Avacta share price.
The Avacta share price moved 2.86% to trade at 116.75p, from Friday’s closing price of 113.50p.
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