Noxopharm (ASX:NOX) shares have seen an increase of as much as 10.5% to A$0.042, marking their highest level since August 1.

This rise comes on the heels of promising test results in the field of biotechnology for the novel dual-cell CRO-67 preclinical drug candidate.

The drug has shown a significant reduction in tumour volume and slower growth.

Currently, Noxopharm is developing CRO-67 as a potential treatment for pancreatic cancer, which has led to its biggest intraday jump since August 1.

However, the shares of Noxopharm have been down by 73.8% year-to-date as of the last close.

Noxopharm is an Australian drug development company focusing on the commercialization of its drug to improve the effectiveness and safety of chemotherapy and radiotherapy.