TME Pharma shares were among the top risers on the Paris market on Wednesday, following the publication by the biotech company of positive results in brain cancer.

Shortly before 12:30 pm, the stock gained over 7%, while the CAC Mid & Small index fell by 0.6%.

The company announced this morning that the median overall survival (mOS) and overall response rate (ORR) of patients receiving NOX-A12 in combination with the VEGF inhibitor, bevacizumab, and radiotherapy had exceeded, according to its TME Pharma estimates, all competing therapeutic trials.

After 17 months of study, 67% of patients in the expansion arm of this Phase 1 trial (i.e. four out of six) were still alive, says TME, which points out that median overall survival should improve further as the remaining patients continue to receive treatment or follow-up care.

For analysts at Invest Securities, these findings testify to an 'extremely promising' efficacy compared to other treatments currently being evaluated or approved in this same indication.

The Paris-based research firm - which believes that the company is 'accumulating evidence and very good data' - thus reiterates its buy opinion and price target of 4.2 euros.

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