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IQ-AI Shares Surged 12.6% on the Positive Pre-Clinical Trials Data

Simon Mugo trader
Updated 27 Jun 2023

The IQ-AI Ltd (LON: IQAI) share price surged 12.6% after highlighting the results of two new studies showing that oral Gallium Maltolate (GaM) inhibits paediatric tumour growth. The company noted that the highlighted results were from two pre-clinical studies.


YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.


The pre-clinical studies were conducted by Dr Mona Al-Gizawiy, PhD from the Schmainda Lab at the Medical College of Wisconsin (MCW), where oral GaM inhibited glioblastoma multiforme (GBM) and atypical teratoid rhabdoid tumour (ATRT), which are rare brain tumours.

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Investors cheered the news since Oral GaM is the same agent being investigated in adult GBM in IQ-AI's sponsored phase I clinical trial currently being conducted at MCW. The results of the two trials were presented at last week's 2023 Society of Neuro-Oncology (SNO) Pediatric Conference in Washington, DC.

The study results were consistent with previous in vitro work conducted at the Schmainda Lab, which demonstrated tumour growth inhibition and a survival benefit from treatment with oral GaM. 

Median overall survival for ATRT was 89 days in the control group and 170 days in the treated group. For GBM, those numbers were 21 and 49 days, respectively. Both studies concluded that monotherapy with oral GaM significantly inhibited growth and provided a massive survival benefit. 

In 2022, about 5,500 new cases of brain tumours were diagnosed in children aged 0-19 years in the United States. The data indicates that rare brain and other central nervous systems (CNS) tumours represent the most dominant cause of cancer deaths in this age group. 

ATRT and GBM are highly aggressive tumours associated with poor outcomes in children. The dire situation is worsened by children's poor responses to existing treatment options. 

Imaging Biometrics (IB) LLC, a wholly-owned subsidiary of IQ-AI Ltd, filed for Orphan Drug Designation to the US Food and Drug Administration (FDA) to use GaM in pediatric brain tumours in April. 

The application is still under review and, if granted, would support developing and evaluating a new treatment alternative for an unmet clinical need.

*This is not investment advice. 

IQ-AI share price.

The IQ-AI share price surged 12.59% to trade at 3.04p, from Monday’s closing price of 2.70p.


YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.


Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading