Full Press Release Details
Phase III Psoriasis Study Achieves 75% Enrollment; Top Line Results Expected Q4 2021
Prompted by positive interim analysis data
Can-Fite accelerates patient enrollment
Can-Fite PETACH TIKVA, Israel, April 29, 2021
-- Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE:CFBI), a biotechnology company advancing a pipeline of proprietary small molecule
drugs that address inflammatory, cancer and liver diseases, today announced that 75% of patients have been enrolled in its Phase III Comfort
study designed to establish Piclidenoson's superiority compared to placebo and non-inferiority compared to Apremilast (Otezla )
in patients with moderate to severe plaque psoriasis. The Company expects to complete enrollment in Q3 2021 and report topline results
Recently, the Company conducted an interim analysis
with an Independent Data Monitoring Committee (IDMC) which recommended based on the positive data and favorable safety profile to continue
patient enrollment. The randomized, double blind study is being conducted in Europe, Israel, and Canada. The study's primary endpoint
is the proportion of patients who achieve a PASI score response of 75% (PASI 75) vs. placebo at week 16. Secondary endpoints include
non-inferiority to Otezla in weeks 16 and 32.
"Can-Fite's lead drug candidate offers
several potential key benefits over psoriasis treatments currently on the market. It provides easy administration for patients who tend
to prefer oral medications over injectables and has demonstrated a favorable safety profile and positive clinical effect in trials,"
stated Can-Fite CEO Dr. Pnina Fishman.
Piclidenoson has been out-licensed for the indication
of psoriasis in Canada, South Korea, Spain, Austria, Switzerland, Central Eastern European (CEE) countries, Hong Kong, Macau, Taiwan,
and China. Can-Fite has received over $20 million in up-front and milestone payments from its distribution agreements to date. According
to iHealthcareAnalyst, the psoriasis therapeutic market is estimated to reach $11.3 billion by 2025.
Piclidenoson is a novel, first-in-class, A3 adenosine
receptor agonist (A3AR) small molecule, orally bioavailable drug with a favorable therapeutic index demonstrated in Phase II clinical
studies. It is currently being evaluated in a multinational Phase III study as a treatment for moderate to severe psoriasis and a Phase
II U.S. study for the treatment of moderate to severe COVID-19.
About Can-Fite BioPharma Ltd.
Can-Fite BioPharma Ltd. (NYSE American: CANF)
(TASE: CFBI) is an advanced clinical stage drug development Company with a platform technology that is designed to address multi-billion
dollar markets in the treatment of cancer, liver, inflammatory disease and COVID-19. The Company's lead drug candidate, Piclidenoson,
is currently in a Phase III trial for psoriasis and a Phase II study in the treatment of moderate COVID-19. Can-Fite's liver drug, Namodenoson,
is headed into a Phase III trial for hepatocellular carcinoma (HCC), the most common form of liver cancer, and successfully achieved its
primary endpoint in a Phase II trial for the treatment of non-alcoholic steatohepatitis (NASH). Namodenoson has been granted Orphan Drug
Designation in the U.S. and Europe and Fast Track Designation as a second line treatment for HCC by the U.S. Food and Drug Administration.
Namodenoson has also shown proof of concept to potentially treat other cancers including colon, prostate, and melanoma. CF602, the Company's
third drug candidate, has shown efficacy in the treatment of erectile dysfunction. These drugs have an excellent safety profile with experience
in over 1,500 patients in clinical studies to date. For more information please visit: www.can-fite.com.
Forward-Looking Statements
This press release may contain forward-looking
statements, about Can-Fite's expectations, beliefs or intentions regarding, among other things, market risks and uncertainties,
its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time
to time, Can-Fite or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements
can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan,"
"may," "should" or "anticipate" or their negatives or other variations of these words or other comparable
words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may
be included in, but are not limited to, various filings made by Can-Fite with the U.S. Securities and Exchange Commission, press releases
or oral statements made by or with the approval of one of Can-Fite's authorized executive officers. Forward-looking statements relate
to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate
to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause Can-Fite's
actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could
cause Can-Fite's actual activities or results to differ materially from the activities and results anticipated in such forward-looking
statements. Factors that could cause our actual results to differ materially from those expressed or implied in such forward-looking statements
include, but are not limited to: our history of losses and needs for additional capital to fund our operations and our inability to obtain
additional capital on acceptable terms, or at all; uncertainties of cash flows and inability to meet working capital needs; the impact
of the COVID-19 pandemic; the initiation, timing, progress and results of our preclinical studies, clinical trials and other product candidate
development efforts; our ability to advance our product candidates into clinical trials or to successfully complete our preclinical studies
or clinical trials; our receipt of regulatory approvals for our product candidates, and the timing of other regulatory filings and approvals;
the clinical development, commercialization and market acceptance of our product candidates; our ability to establish and maintain strategic
partnerships and other corporate collaborations; the implementation of our business model and strategic plans for our business and product
candidates; the scope of protection we are able to establish and maintain for intellectual property rights covering our product candidates
and our ability to operate our business without infringing the intellectual property rights of others; competitive companies, technologies
and our industry; statements as to the impact of the political and security situation in Israel on our business; and risks and other risk
factors detailed in Can-Fite's filings with the SEC and in its periodic filings with the TASE. In addition, Can-Fite operates in
an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control.
Can-Fite does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information,
future events or otherwise.