G1 Therapeutics hits record low on plans to scrap drug study in colon cancer

G1 Therapeutics

13/02/2023 16:16

(Updates)
    ** Shares of G1 Therapeutics Inc  GTHX.O  plunge 53.2% to
hit an all-time low of $3.34
        ** Stock set for its biggest ever intraday pct. drop if
losses hold 
    ** Company says it has decided to discontinue a late-stage
study testing its lead drug for the treatment of a type of colon
cancer
    ** Placebo outperformed the drug, trilaciclib or Cosela, in
early anti-tumor efficacy data, including overall response rate,
or percentage of patients whose cancer shrinks or disappears
after treatment - GTHX
    ** The drug was also unlikely to meet the main goals of
extending overall survival or the time that a patient lives
without the disease worsening -GTHX 
    ** The study was testing a combination of the drug
administered along with chemotherapy and Roche's  ROG.S  therapy
Avastin in patients with a type of colorectal cancer -GTHX
    ** Including session moves, stock has fallen ~67% in the
past 12 months
 (Reporting by Mariam E Sunny)
 ((Mariam.ESunny@thomsonreuters.com))