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Be the first with the news that moves the market- Transformative cancer diagnostics technology company Rhythm Biosciences (RHY) closes its final ColoSTAT clinical trial site
- The closure of all the clinical trial sites signifies the finality of clinical trial operations, marking another milestone toward commercialisation of its colorectal cancer blood test
- Rhythm is now in the process of completing remaining regulatory submission activities
- The company also aims to eventually make a submission with the Therapeutic Goods Administration (TGA)
- RHY shares are up 6.25 per cent and trading at $1.36 per share
Transformative cancer diagnostics technology company Rhythm Biosciences (RHY) has closed its final ColoSTAT clinical trial site (study 7).
ColoSTAT is a simple, low-cost blood test for detecting colorectal cancer that has the potential to ultimately provide an alternative to a colonoscopy.
The closure of all ColoSTATE clinical trial sites signifies the finality of clinical trial operations, marking another milestone toward commercialisation of its colorectal cancer blood test.
Rhythm is now in the process of completing remaining regulatory submission activities.
“The successful closure of the operational aspects of our clinical trial program places the company into a critical phase to deliver ColoSTAT into the market later this year,” CEO and Managing Director Glenn Gilbert said.
Near-term activities ahead of the market release of ColoSTAT later this year include the final clinical study report completion and partnering and commercialisation of domestic and international deals.
The company also aims to submit international country registration updates and eventually make a submission with the Therapeutic Goods Administration (TGA).
This announcement follows after ColoSTAT was confirmed to deliver a high level of accuracy for the detection of colorectal cancer, recording a sensitivity of 81 per cent and a specificity of 91 per cent.
Rhythm is focused on becoming a globally significant, transformative, predictive diagnostics company, specialising in cancer detection technology.
RHY shares were up 6.25 per cent and trading at $1.36 per share at 11:16 am AEST.
