French biotech AB Science hopes to win approval to sell its most promising drug as a treatment for digestive tract and pancreatic cancer as soon as 2014, its chief executive Alain Moussy said in an interview.
With enough cash to fund itself for the next three years, Moussy said AB Sciences was confident it would not have to seek a partner or buyer, while a quick approval for its potential cancer treatment masitinib would help guarantee its independence.
AB Science's progress with masitinib has helped its shares jump some 217 percent since the start of the year, by far the biggest riser on the CAC mid and small index, valuing it at close to 600 million euros ($762.66 million).
The Paris-listed group recently applied to the European Medicines Agency (EMA) to start selling masitinib, already used as veterinary drug, to treat pancreatic and digestive tract cancers in humans. It expects a decision by the end of 2013.