Invion (ASX:IVX) shares have soared by up to 160%, fueled by news that the company has enrolled its first patient in a Phase I/II trial for non-melanoma skin cancer, utilizing its photo dynamic therapy (PDT) technique.
Although the initial news may seem modest, the sharp rise in stock price reflects Invion’s historically undervalued position in the market, with investors eagerly awaiting any positive developments. PDT, a technique that has been known for decades but remains underutilized, uses non-toxic photosensitizers and light to selectively target and destroy cancer cells while stimulating an anti-cancer immune response.
The trial, currently underway in Queensland, aims to recruit at least 18 patients, with the flexibility for the number to adjust based on trial outcomes. As an open-label study, results can be reported gradually. Non-melanoma skin cancers, which account for approximately 98% of all skin cancers, are among the most common tumors worldwide.
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