Aslan Pharmaceuticals: Plunges after cancer treatment fails study

Aslan Pharmaceuticals

14/01/2019 13:47

** U.S.-listed shares  ASLN.O  of Singapore-based drug
developer fall 23.5 pct to $2.72 premarket
    ** Co said late Sunday its drug varlitin did not
significantly reduce tumor size in certain gastric cancer
patients, which was the main goal of a mid-stage study
 urn:newsml:reuters.com:*:nGNXLrWY9
    ** Study was testing the treatment in cancer patients tested
positive for HER1/HER2 protein, co said 
    ** The treatment in combination with chemotherapy led to an
average tumor shrinkage of 22 pct in patients after 12 weeks,
compared to 12.5 pct in patients treated with chemotherapy alone
    ** Leerink cuts PT on stock to $3 from $7, HC Wainwright
cuts PT to $8.5 from $12 after the update 
    ** Stock has fallen ~35 pct since its IPO in May 

 (Reporting by Manas Mishra in Bengaluru)
 ((Reuters Messaging:
manas.mishra.thomsonreuters.com@reuters.net))