UPDATE 2-Delcath liver cancer treatment found effective
(Adds analyst comment, details, share movement)
* Co says mid-stage data supports plan for late-stage trial in H2, 2012
* Shares rise more than 12 pct
Aug 22 (Reuters) - Delcath Systems Inc said its experimental cancer treatment showed strong efficacy in treating primary liver cancer patients in a mid-stage trial, sending shares of the medical devices maker up more than 12 percent in morning trade.
"It's great news that the system appears to be safe in this setting, and we look forward to better understanding of the manner of efficacy and clinical benefit the patients were able to derive," Gregory Wade from Wedbush Securities told Reuters.
The study included four patient cohorts -- hepatobiliary cancers, and metastatic cancers of neuroendocrine, ocular or cutaneous melanoma, and colorectal origins. Responses to the treatment were most encouraging for the hepatobiliary cohort.
The hepatobiliary cohort consisted of patients suffering from hepatocellular carcinoma (HCC), the most common primary cancer of the liver, and those with cancers originating from bile ducts.
"We believe these results show a strong signal of efficacy, and support our plan to initiate Phase III and Phase IV trials for HCC in the second half of 2012," Chief Executive Eamonn Hobbs said in a statement.
Delcath is developing a chemosaturation system that is designed to administer high dose chemotherapy drugs to only the diseased organs or regions of the body -- thereby restricting the harsh effects of chemo drugs on other body organs.
Analyst Wade said the demonstration of safety and efficacy could also accelerate the adoption of the product in Europe.
In April, the company received approval to market its chemosaturation system in Europe.
For the mid-stage trial, Delcath used the chemotherapy drug melphalan.
Delcath shares were trading up almost 6 percent at $3.78 in morning trade on Nasdaq. They had touched a high of $4.11 earlier in the session. (Reporting by Shailesh Kuber and Esha Dey in Bangalore; Editing by Saumyadeb Chakrabarty and Joyjeet Das)
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