G1 Therapeutics falls as breast cancer drug fails to meet main goal in study

G1 Therapeutics

24/06/2024 11:59

** Shares of G1 Therapeutics  GHTX.O  decline 18.1% to $2.03
in premarket trading 
    ** Co's drug, trilaciclib, failed to meet the main goal of a
late-stage study in patients with a type of breast cancer that
spreads to other parts of the body 
    ** The drug and chemotherapy helped increase lives of
patients by an average of 17.4 months, compared to 17.8 months
for patients who received chemotherapy and placebo in study
    ** Co plans to wind down the study and make targeted
headcount reductions outside of the existing commercial
organization 
    ** GTHX says will shift focus on its trials for non-small
cell lung cancer and is sufficiently funded to achieve
profitability in H2 2025
    ** Co's drug is approved in the U.S. as Cosela for use
before chemotherapy to protect bone marrow function
    ** As of last close, GHTX down ~19% YTD

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))