Tocagen's brain cancer treatment fails late-stage study, shares slump (updated)
12/09/2019 11:44
(Adds details, share movement, company comments)
Sept 12 (Reuters) - Tocagen Inc TOCA.O said on Thursday
its experimental treatment did not prove effective in extending
life of brain cancer patients in a late-stage study, sending
shares down 68%.
The California-based company said its lead product candidate
Toca 511 & Toca FC also did not show meaningful superiority in
secondary goals compared to standard of care treatment during
the trial. urn:newsml:reuters.com:*:nPn2F5hZma
"The team plans to conduct an operational review of the
business, engage with the FDA and European regulators to
determine potential next steps," the company said.
It said it plans to present further data from the trial at
an upcoming medical conference.
Toca 511 & Toca FC is a two-part cancer-selective
immunotherapy that spares the blood cells from the common side
effects associated with chemotherapy, as it is a targeted
therapy.
Shares of the company plummeted 67.9% to $1.34 before the
bell.
(Reporting by Manojna Maddipatla in Bengaluru; Editing by
Shinjini Ganguli)
((manojna.kalyani@thomsonreuters.com; within the U.S. +1 646
223 8780, outside the U.S. +91 80 6749 1692;))