G1 Therapeutics down after lead cancer therapy fails to meet study goal

G1 Therapeutics

13/02/2024 11:08

** Shares of G1 Therapeutics  GTHX.O  fall 38.2% to $2.77
premarket
    ** GTHX said after markets closed on Monday, its lead cancer
therapy in combination with chemotherapy failed to prolong
survival of patients with an aggressive form of breast cancer,
according to interim data from a late-stage study
    ** Says the study testing GTHX's lead therapy, Cosela, in
combination with chemotherapy will continue to do final analysis
which is expected in Q3 2024
    ** "(The) news is unfortunate given prior supportive data
and as investor focus will likely shift to cash runway as we
await the final results," TD Cowen analyst Joseph Thome wrote in
a note
    ** An independent data monitoring committee which conducted
the interim analysis did not express any concerns regarding
safety or recommend any other changes to the study - GTHX
    ** Cosela is already approved to decrease a side effect of
chemotherapy, called myelosuppression, in some lung cancer
patients
    ** Up to last close, stock down 37% in the last 12 months

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))