Instil Bio slumps on pausing enrollment in cancer therapies' trials

Instil Bio

31/10/2022 11:55

** Shares of Instil Bio Inc  TIL.O  down ~38% at $3.24
premarket
    ** Co says it has voluntarily paused patient enrollment in
trials testing its experimental cancer therapies, ITIL-168 and
ITIL-306  urn:newsml:reuters.com:*:nGNX9vvx35
    ** Pause is following a recent decrease in the rate of
successful manufacturing of ITIL-168 - TIL
    ** Co says a safety analysis in early-stage trial has been
conducted on patients who received ITIL-168 and did not identify
any unexpected safety issues
    ** Co adds that although no manufacturing failures have been
observed to date in the early-stage study of ITIL-306, 
enrollment is being paused in the trial as part of overall
manufacturing analysis
    ** Says company has commenced an end-to-end analysis of its
manufacturing processes and upon completion of this analysis, it
plans to take corrective actions to improve rate of
manufacturing success and resume the study
    ** Company plans to provide an update on the manufacturing
analysis by early Q1 of 2023
    ** ITIL-168 is being studied for treatment of advanced
melanoma and other solid tumors, while ITIL-306 being studied 
for treating multiple solid tumors
    ** As of last close, stock down ~69% YTD
 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))