Iteos falls after mid-stage study results for lung cancer drug

iTeos Therapeutics

16/09/2024 16:08

(Updates)
    ** Shares of cancer drug developer Iteos Therapeutics
 ITOS.O  slide 23.6% to $12.76
    ** Stock had risen 27.3% to $21.26 in premarket trade
    ** Co says its lung cancer drug belrestotug, in combination
with GSK's  GSK.L  drug dostarlimab, showed higher percentage of
reduction or disappearance of tumor vs patients given only GSK's
drug
    ** However, the combination led to an increase in
immune-related events compared to dostarlimab monotherapy, ITOS
says
    ** Investors seem to be concerned with adverse events from
the study, but we believe they will be better managed in the
late-stage trial, says Wedbush Securities analyst David
Nierengarten 
    ** The combo was tested in patients with an advanced kind of
lung cancer called non-small cell lung cancer
    ** Including session's move, stock up 16.5% YTD

 (Reporting by Kashish Tandon)
 ((Kashish.tandon@thomsonreuters.com))