Check-Cap plunges as cancer device doesn't meet efficacy criteria for US study

Mbody Ai

21/03/2023 15:14

** Check-Cap Ltd's  CHEK.O  shares fall 40.5% to $1.8 -
biggest one-day pct loss in about 3 years
    ** Medical diagnostic developer says internal assessment of
data from study of its diagnostic product, C-scan, developed for
colorectal cancer screening, showed the current efficacy results
do not meet the goal in order to further U.S. portion of the
study  urn:newsml:reuters.com:*:nPn8Bh502a
    ** Co plans to conduct additional data analysis and approach
U.S. health regulators to make changes to its U.S. portion of
study
    ** U.S. portion of the study that was expected to start by
mid-2023 is temporarily postponed - CHEK 
    ** CHEK plans to cut cost to extend cash runway
    ** CHEK was down ~84% last year

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))