Bone Therapeutics shares slide on strategic turnaround

Biosenic SA

29/03/2022 08:56

** Shares in biopharmaceutical company Bone Therapeutics
 BOTHE.BR  drop 2.6% after it said it would focus on developing
its lead allogeneic cell therapy product ALLOB
    ** The group said ALLOB was currently being evaluated in a
randomised, double-blind, placebo-controlled Phase IIb study in
patients with high-risk tibial fractures  urn:newsml:reuters.com:*:nFWN2VV146
    ** It added it would focus R&D activities to support ALLOB's
clinical development while all other activities related to iMSCg
platform or not concerning ALLOB would be stopped
    ** It also warned of a possible delay for ALLOB Phase IIb
trial topline results as talks for the global rights deal with
one Chinese partner are longer than anticipated
    ** "The potential completion of a final binding agreement
has been delayed beyond the end of Q1 2022," it said
    ** The stock is down by around 45% year-to-date

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))