TEL AVIV, Israel, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Chemomab Therapeutics Ltd. (Nasdaq: CMMB) ("Chemomab" or the "Company"), a clinical stage biotechnology company developing innovative therapeutics for fibro-inflammatory diseases with high unmet need, today announced the company will issue a press release reporting its second quarter 2024 financial results and providing a business update on August 21, 2024, at 7:00 am Eastern Time. Investors who would like to discuss the financial results or business updat ...

— HBM Healthcare Investments, OrbiMed and Sphera Biotech Master Fund LP Participated in the Financing that Extends Cash Runway Potentially to the Beginning of 2026— —Chemomab is Well-Positioned to Achieve Key Clinical Milestones in Q1 2025 While Continuing to Advance Its Discussions with Potential Partners Based on Positive Phase 2 Results— TEL AVIV, Israel, July 30, 2024 (GLOBE NEWSWIRE) -- Chemomab Therapeutics Ltd. (Nasdaq: CMMB) ("Chemomab" or the "Company"), a clinical stage biotechnology company devel ...

On July 23, 2024, Nasdaq provided confirmation to the Company that for the 10 consecutive business days preceding receipt of the letter, from July 9, 2024 to July 22, 2024, the closing bid price of the ADSs was $1.00 or greater, that the Company has hence regained compliance with Listing Rule 5550(a)(2) and that the matter is now closed. About Chemomab Therapeutics Ltd. Chemomab had previously announced on November 6, 2023, that it was notified by Nasdaq that it was not in compliance with the minimum bid pr ...

Core Viewpoint - Chemomab Therapeutics Ltd. has announced a private investment in public equity (PIPE) expected to generate approximately $10 million in gross proceeds, which will extend its cash runway to fund operations through early 2026, one year longer than previously projected [3][4]. Funding and Use of Proceeds - The net proceeds from the PIPE will be utilized alongside existing cash to support the development of CM-101, as well as for general corporate purposes and working capital [2][4]. - The PIPE involves the sale of 4,188,867 American Depositary Shares (ADSs) at a price of $1.235 per share, reflecting the average share price over the last four trading days [4]. Company Overview - Chemomab is a clinical-stage biotechnology company focused on developing therapeutics for fibro-inflammatory diseases with significant unmet needs [12]. - The company has developed CM-101, a monoclonal antibody targeting CCL24, which has shown a favorable safety profile in clinical trials and is positioned to treat various severe fibro-inflammatory diseases [12]. Clinical Development - Chemomab has reported positive results from four clinical trials of CM-101, including a Phase 2 trial for primary sclerosing cholangitis and a Phase 2a trial for liver fibrosis [12]. - The CM-101 program for systemic sclerosis is ready for Phase 2 trials with an open U.S. IND [12].

The PIPE included participation from both new investors, including HBM Healthcare Investments and Sphera Biotech Master Fund LP, and existing investors. Chemomab expects that the net proceeds from the PIPE will extend its cash runway to fund its operations through the beginning of 2026, an extension of approximately one year from current projections, which should fund the Company for approximately one year after the completion of two major milestones expected in early 2025. Forward Looking Statements About ...

Core Insights - Chemomab Therapeutics reported positive topline results from the Phase 2 SPRING trial for its monoclonal antibody CM-101 in patients with primary sclerosing cholangitis (PSC), achieving its primary endpoint of safety and tolerability while demonstrating significant anti-fibrotic, anti-inflammatory, and anti-cholestatic effects [2][3][5] Company Overview - Chemomab is a clinical-stage biotechnology company focused on developing innovative therapeutics for fibro-inflammatory diseases with high unmet medical needs, particularly targeting CCL24 to address fibrosis and inflammation [26] Clinical Trial Results - The Phase 2 SPRING trial involved 76 patients treated with either 10 mg/kg or 20 mg/kg of CM-101 every three weeks over 15 weeks, with a focus on safety and a range of secondary efficacy endpoints [3][20] - CM-101 demonstrated statistically significant improvements in liver stiffness, total bilirubin, liver function tests, and pruritis, marking it as the first investigational drug to show such effects in PSC [3][5][8][13][14] - Improvements in liver stiffness were observed as early as 15 weeks, with a notable reduction in total bilirubin levels indicating its anti-cholestatic activity [3][13] Safety Profile - CM-101 exhibited a favorable safety profile, with adverse events primarily being mild to moderate, including fatigue, headache, and pruritis, distributed similarly between treatment and placebo groups [7][8] Future Plans - The company is preparing for an End-of-Phase 2 meeting with the FDA to discuss the trial results and the design of a proposed Phase 3 trial for accelerated approval, with plans to initiate the trial in 2025 [17] - An ongoing Open Label Extension (OLE) portion of the SPRING trial allows patients to receive CM-101 for an additional 33 weeks, with results expected in the first quarter of 2025 [18] Market Context - PSC is a rare, progressive liver disease with no approved therapies, affecting an estimated 30,000 patients in the U.S. and 80,000 worldwide, highlighting the significant unmet medical need for effective treatments [21]

Analysts have been steadily raising their estimates for Chemomab Therapeutics. Over the past three months, the Zacks Consensus Estimate for the company has increased 33.3%. The upgrade of Chemomab Therapeutics to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging ...

TEL AVIV, Israel, June 18, 2024 (GLOBE NEWSWIRE) -- Chemomab Therapeutics Ltd. (NASDAQ:CMMB) (Chemomab), a clinical stage biotechnology company developing innovative therapeutics for fibroinflammatory diseases with high unmet need, today announced a new scientific publication that further confirms the important role of the soluble protein CCL24 in the pathologies underlying the rare fibrotic liver disease primary sclerosing cholangitis (PSC). The new study reinforces the extensive evidence showing the poten ...

—Ex Vivo Studies Using Clinical Samples from Patients with Liver Fibrosis Reinforce the Anti-Fibrotic Activity of CM-101 by Showing the Drug's Direct Interference with Liver Fibroblast Activation— —New Translational Data Further Confirms CM-101's Disease Modifying Activity in Primary Sclerosing Cholangitis— TEL AVIV, Israel, June 06, 2024 (GLOBE NEWSWIRE) -- Chemomab Therapeutics Ltd. (Nasdaq: CMMB) (Chemomab), a clinical stage biotechnology company developing innovative therapeutics for fibroinflammatory d ...

—Ex Vivo Studies Using Clinical Samples from Patients with Liver Fibrosis Reinforce the Anti-Fibrotic Activity of CM-101 by Showing the Drug's Direct Interference with Liver Fibroblast Activation— The presentations cover a range of topics, from new preclinical studies further elucidating the roles of the novel soluble protein target CCL24 and Chemomab's CCL24-neutralizing antibody CM-101 in fibro-inflammatory liver disorders, to translational research supporting the clinical development of CM-101 for PSC, a ...