-Street View: Tocagen's brain cancer study failure 'significant' setback
13/09/2019 12:28
** Tocagen Inc TOCA.O said on Thursday its experimental
treatment failed to extend life of brain cancer patients in a
late-stage study
** Co said its lead product candidate, Toca 511 & Toca FC,
did not show meaningful superiority in secondary goals compared
to standard of care treatment in the trial, which evaluated the
therapy in patients with recurrent high grade glioma (rHGG)
** TOCA shares closed down ~78% at 93 cents on Thursday
urn:newsml:reuters.com:*:nL3N2632DS
Data raises question on co's pipeline, dependent on failed
therapy
** Baird ("neutral", PT:$1) says this particular form of
brain cancer is an "exceptionally difficult disease in which to
achieve clinical benefit", particularly overall survival benefit
** Says the failure is a significant setback for the drug
and for TOCA more broadly
** Study has quashed any hopes for even a near miss in the
trial, which would have supported regulatory review in light of
the unmet need in the disease space - Baird
** Citigroup (PT:$1) says the data could make investors
question co's future, given most of its pipeline relies on the
same technology
** SVB Leerink ("market perform", PT:$1) says the failure
adds another disappointment for patients with high-grade glioma,
their families, and their physicians
** HC Wainwright ("neutral") says Toca 5 was not only co's
most advanced development program, but Toca 511 and Toca FC are
also used in all of co's other disclosed clinical studies
(Reporting by Aakash Jagadeesh Babu in Bengaluru)
((Aakash.B@thomsonreuters.com; within the U.S. +16462238780,
outside the U.S. +91 80 67491576; Twitter: @JagadeeshAakash;))