Tocagen shares plunge as brain cancer treatment fails late-stage trial
12/09/2019 11:46
** Drug developer's shares TOCA.O plummet 67.9% to $1.34
premarket; set to open at record low if losses hold
** Co says its experimental treatment did not prove
effective in helping patients with a type of brain cancer to
live longer, in a late-stage study urn:newsml:reuters.com:*:nL3N2632CP
** Co says it is conducting an operational review and
analyzing data further; cash as of June 30 was about $68 mln
** TOCA to present results at an upcoming medical conference
** Trial was testing Tocagen's lead product, a two-part
immunotherapy comprising a biologic drug, Toca 511, and a small
molecule drug, Toca FC
** Up to Wednesday's close, stock had fallen ~49% YTD
(Reporting by Tamara Mathias in Bengaluru)
((Tamara.Mathias@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 1208;))