The OncoSil Medical Ltd (ASX: OSL) share price is soaring higher on Friday after the company announced the publication of the PanCO clinical study’s final results.
The study confirmed the company’s OncoSil device can be safely and successfully used alongside chemotherapy to treat unresectable locally advanced pancreatic cancer.
At the time of writing, the OncoSil share price is 4.6 cents, 17.95% higher than its previous close.
Let’s take a closer look at today’s news from the medical device company.
OncoSil share price leaps higher on study results
The OncoSil share price is surging on the results of the PanCO clinical study, conducted in Australia, Belgium, and the United Kingdom.
The company’s OncoSil device delivers beta radiation to cancerous tissue.
The study found it controlled advanced pancreatic cancer at the 16-week point in 90.5% of patients. On top of that, 31% of the study’s participants achieved a disease control rate of 100%.
Finally, despite the recruited patients having had their cancers defined as unresectable (unable to be removed completely through surgery) by pancreatic cancer experts, 23.8% had surgery with the intent to cure their cancer after being treated with chemotherapy plus OncoSil.
The company also notes more patients found their cancer was resectable following the study but chose not to receive surgery.
The device was also found to not cause adverse events related to radiation.
The paper resulting from the study has been published in ESMO Open. ESMO Open is the European Society for Medical Oncology’s peer-reviewed open-access journal.
Speaking on the results of the study fuelling the OncoSil share price, its principal investigator Dr Paul Ross commented:
The results of this important clinical study provide evidence that OncoSil can address a significant unmet clinical need in patients with unresectable locally advanced pancreatic cancer. The results clearly show an acceptable safety profile and encouraging clinical benefits for patients.
OncoSil’s CEO and managing director Nigel Lange also commented on the news, saying:
We are very encouraged by the published results of the PanCO study… We will be sharing this clinical evidence with gastroenterologists, oncologists, and nuclear medicine physicians to make this novel treatment more widely available to patients.
Despite today’s uptick, the OncoSil share price is still down 61% year to date. Though, it has gained 2.2% over the last 30 days.
The post Why is the OncoSil Medical (ASX:OSL) share price surging 18% today? appeared first on The Motley Fool Australia.
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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