Shares of Yonkers-based drugmaker ContraFect Corp. (NASDAQ:CFRX) are getting a bounce in early Thursday trading, rebounding from an all-time low of $1.20 hit last Friday. Traders seem excited that ContraFect is initiating a Phase 2 clinical trial of CF-301, a first-in-class lysin for the treatment of life-threatening Staphylococcus aureus bacteremia, including the rare heart infection called right sided endocarditis.
CF-301 is the only drug candidate to make it to human studies so far for ContraFect. A Phase 1 trial was completed in December 2015, showing the drug to be safe and well tolerated amongst healthy subjects. The Phase 2 trial was delayed following an investigation drug product lot failing to meet manufacturing release specifications.
Lysins are enzymes derived from viruses used to break the bacterial peptidoglycan cell wall to destroy infected bacteria. They offer a new approach to traditional antibiotics by not requiring cell division or metabolism to attack.
Broadly speaking, multi-drug resistance by so-called superbugs is a global problem. In the U.S. alone, there are about 120,000 Staph aureus bloodstream infections, claiming about 30,000 lives. Endocarditis is the result of the bacterium spreading to infect heart tissue.
The Phase 2 trial is expected to enroll a total of 115 patients across about 70 sites worldwide. Patients will be randomized to receive either CF-301 or standard of care antibiotics plus placebo. Top line results are expected in Q4 2018.
After closing Wednesday at $1.30, shares of CFRX have jumped 15.4% in early Thursday trading to $1.50.
