Shares in Novogen Limited (ASX:NRT, NASDAQ:NVGN) jumped more than 20 per cent yesterday after confirming the potential of one of its drugs to become a major new chemotherapy.
The drug developer says Anisina is one of its oncology pipeline drug candidates and has achieved a major milestone in its development.
A proof of concept study has shown that Anisina can deliver a powerful anti-cancer effect through destroying a cancer cell's cytoskeleton.
CEO and Executive Chairman Graham Kelly says Anisina’s promise lies in its ability to make the most widely-used chemotherapy drugs work better and safer in more forms of cancer and in more patients.
Novogen’s objective is to see Anisina become one of the most widely used drugs in chemotherapy.
Novogen reported a net loss of $2.43 million in the first half of the 2015 financial year.
