Molecular Templates: Down after development of lead cancer therapy scrapped

Molecular Templates

05/04/2021 17:11

** Shares of cancer drug developer  MTEM.O  down ~25% at
$9.30
    ** Co says it will discontinue development of its lead
cancer therapy, MT-3724  urn:newsml:reuters.com:*:nGNX5l5ZC7
    ** MT-3724 was being tested in multiple mid-stage trials in
patients with Diffuse Large B-cell Lymphoma, a type of cancer
that starts in white blood cells called lymphocytes that are
responsible for producing antibodies
    ** In Nov, U.S.FDA had placed trials testing MT-3724 on
partial clinical hold following death of a subject; studies were
placed on full clinical hold in March  urn:newsml:reuters.com:*:nL4N2HS42Q
    ** Resources to be focused on development of remaining
pipeline candidates; no changes to trials or plans for other
candidates - MTEM

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))