ASLAN Pharmaceuticals Limited (NASDAQ: ASLN) was among the top gainers in Wednesday’s trading session. The stock closed the day with gains of 81.25% percent and on high volumes of 15.36 million.
The company has been gaining recently after an announcement that data touching on its treatment for acute myeloid leukemia had been published in the Haematologica journal. This supports the company’s findings that ASLAN003 was a potential inhibitor of the human potential dihydroorotate dehydrogenase. It also supports its potential as a novel target for treatment with a good toxicity profile.
ASLA003 has the potential to be a first-class AML therapy. It has demonstrated inhibition of DHODH, and does not have the toxicities that come with 1st generation inhibitors. This is a big deal considering that ASLAN Pharmaceuticals has the world rights for non-tropical indications. The company is currently doing phase 2 studies for ASLAN003. It is also looking into other solid tumors in which DHODH may apply.
Looking at the chart, the stock has been gaining for the past week, in tandem with the announcement of the aforementioned data publication. In yesterday’s trading session, the stock opened and closed higher than Tuesday’s trading session. It opened trading at $1.36, and traded between $1.25 and $3.90 before closing the day at $2.32.
About ASLAN Pharmaceuticals Limited
ASLAN Pharmaceuticals Limited is a Biopharma Company that focuses on cancer treatments that are common in Asia and have orphan indications in the U.S and Europe. The company’s treatment portfolio is made up of three products. They are all aimed at patient segments for novel immune checkpoints. The company has a number of partners that include Bristol-Myers Squibb, Array Biopharma among others. The company has its headquarters in Singapore, but it also has offices in China and Taiwan.