Gritstone bio falls after interim results from mid-stage cancer study

Gritstone bio

01/10/2024 13:17

** Shares of drug developer Gritstone bio  GRTS.O  fall
16.2% to 49 cents premarket
    ** Co on Monday announced interim results from mid-stage
study testing its experimental vaccine for colorectal cancer
patients
    ** GRTS said vaccine showed 21% relative risk reduction of
disease progression or death compared to standard of care
treatment
    ** Said clinical benefit was most notable in patients with
low disease burden, adding continued follow-up is needed to
fully assess therapy's effects
    ** Co was previously testing the vaccine in high-risk
patients who suffered faster progression of the disease
    ** GRTS also said it has engaged Raymond James as financial
advisor to explore and review potential value-maximizing
strategies 
    ** Up to last close, stock down 71.6% YTD

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))