Calithera Biosciences: Slumps after missing main goal of cancer study

Calithera Biosciences

04/01/2021 13:22

** Biotechnology company's  CALA.O  shares slump 55% to $2.2
premarket  - set to open at record low
    ** Co says topline results from the CANTATA clinical study
of its glutaminase inhibitor, telaglenastat, in patients with
advanced or metastatic renal cell carcinoma did not meet primary
endpoint  urn:newsml:reuters.com:*:nGNX5bCsyR
    ** Co announces 35% workforce reduction; expects related
one-time severance charge of $1.3 mln to $1.5 mln
    **  Co will continue to advance telaglenastat KEAPSAKE trial
in non-small cell lung cancer
    ** Co lost nearly 15% of its value last year

 (Reporting by Shashank Nayar in Bengaluru)
 ((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6182 2256;))