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Thursday, May 19, 2022

Vascular Biogenics Ltd. (VBLT) Stock Surged 1.38% Pre-Market, Here’s Why

Vascular Biogenics Ltd. (VBLT) stock soared 1.38% in the pre-market trading session at the price of $1.47 following an SEC filling.

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Ofra-Vec Acquired Fast Track Designation

On 26th April 2022, VBLT reported the grant of fast track designation from the U.S. FDA  for its Ofra-Vec (VB-111). The drug candidate works combined with paclitaxel to treat ovarian-based cancer. Additionally, the Data Safety Monitoring Committee recommended continuing the clinical trial as scheduled following the data review from 370 other patients.

Ofra-Vec is an investigational gene-based, anti-cancer agent in clinical development to defeat solid tumors. The drug is being administered once every sixth to the eighth week as an IV infusion. The lead clinical study for the drug is the Phase-III OVAL trial in patients with platinum resistive ovarian cancer. VBLT stock has recently finished the registration of over 409 patients in this clinical trial conducted across Israel, Europe, Japan, and the U.S.

VBLT Business Updates

The year 2021 was a period of tremendous progress for VBL stock. The company advanced its development projects, bolstered its management team, and established a meaningful existence in the U.S. The stock is well-positioned to transform potentially in the year 2022. VBLT expects PFS data readout in the OVAL Phase-III trial by H2 of 2022.

VBLT stock is anticipating publishing the preliminary results of Ofra-Vec from the Phase-II trials soon. Moreover, it intends to enter the clinic with VB-601 by the second half of 2021. The stock is hopeful about the progress of its VBL-601 program and is seeking numerous opportunities to create more stakeholder value.

VBLT Stock

VBL is a leading biopharmaceutical firm that discovers, develops, and commercializes first-of-its-kind therapies for solid tumors and inflammatory or immune indications. The stock delivers unique solutions to fulfill the unmet medical needs of patients. The company’s monocyte targeting platform and proprietary VTS technology facilitate the design of product candidates that harness the body’s biological functions.

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