Patrys postpones PAT-SM6 trial

Patrys (ASX:PAB) has postponed a planned clinical trial of anticancer candidate PAT-SM6 in multiple myeloma, due to delays manufacturing products for the planned trial.

In a market update, the company said it has been advised that there will be a delay in the availability of the finished product due to complications in the manufacturing process.

While the manufacturing issues have now been resolved, the trial is now not expected to commence until the second quarter of 2015.

Patrys said such delays are not uncommon due to the challenges involved in the manufacturing of biologicals.

The company plans to use the period between now and the beginning of the trial to work with advisors and investigators to determine the best clinical strategy for the product.

The trial will evaluate the use of PAT-SM6 in combination with carfilzomib in relapsed and refractory multiple myeloma.

More details of the planned trial will be revealed at the company’s AGM on 12 November. At the meeting, shareholders will also vote on whether to ratify the previous $1.3 million shortfall placement to Azure Capital, along with other resolutions.

Patrys (ASX:PAB) shares were trading 19.05% lower at $0.017 as of around 1.30 pm on Friday.