2seventy bio falls after co stops enrolling patients for blood cancer therapy trial

2Seventy Bio

25/09/2024 13:19

** Shares of cancer therapy maker 2seventy bio  TSVT.O  fall
9.8% to $4.30 premarket
    ** Co and partner Bristol Myers Squibb  BMY.N  will
discontinue enrollment in late-stage trial studying its cell
therapy in patients with newly diagnosed multiple myeloma
    ** Multiple myeloma is a blood cancer that affects plasma
cells in the bone marrow
    ** Decision taken as there are considerably fewer eligible
patients for the trial than when the study was first designed
    ** TSVT to save over $80 million over next several years and
help break even earlier in 2025
   ** BMY and TSVT will work with investigators to determine
appropriate next steps for patients currently enrolled
    ** As of last close, TSVT stock up 11% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com))