- Rhythm Biosciences’ (RHY) shares have soared 118 per cent after confirming the antibodies for a key, lead biomarker have been validated
- This lead biomarker makes up the key ingredient for ColoSTAT
- ColoSTAT is Rhythm’s low-cost and simple blood test, which detects colorectal cancer
- It can intervene in the early stages of this cancer by differentiating between cancerous and healthy blood samples
- Colorectal cancer is the third biggest cause of cancer-related deaths in the world
- Rhythm is up a staggering 118 per cent after today’s news and shares are trading for 12 cents each
Rhythm Biosciences’ (RHY) shares have soared 118 per cent after confirming the antibodies for the key, lead biomarker for ColoSTAT have been validated.
This is the primary biomarker, which can differentiate between cancerous and healthy blood samples and makes up the key ingredient for ColoSTAT. ColoSTAT is Rhythm’s low-cost, minimally invasive, simple blood test that detects colorectal cancer.
Colorectal cancer is marked as the third biggest cause of cancer-related deaths globally. According to the company, over 850,000 people die from colorectal cancer each year.
Rhythm Biosciences’ mission is to develop and commercialise a screening and diagnostic test to detect the early stages of this cancer.
“We are focusing on the development and optimisation of the adjunct biomarkers that will support not only the key lead, biomarker, but add to the overall ColoSTAT test kit for colorectal cancer determination,” CEO Glenn Gilbert said.
The successful validation, stabilisation and reproduction of this biomarker has significantly de-risked Rhythm’s technology from a scientific perspective.
“Despite the current macroeconomic climate, I would remind all stakeholders that in addition to potentially replacing or working as an adjunct of the current faecal testing, the ColoSTAT test kit will enable the reading of cancerous samples, rather than just the presence of blood in faeces,” Glenn added.
Rhythm believes the simple blood test will not only improve the current poor compliance of the faecal immunochemical test (FIT), but will save lives and healthcare costs.
Rhythm is up a staggering 118 per cent after today’s news and shares are trading for 12 cents each at 11:41 am AEDT.