Molecular Templates: Falls as FDA puts cancer studies on hold after death of patient

Molecular Templates

06/11/2020 15:46

** Shares of cancer drug developer's  MTEM.O  down 19.2% at
$8.77; among top pct losers on the Nasdaq  .IXIC 
    ** FDA places studies testing co's cancer therapy, MT-3724,
on partial clinical hold following the death of a subject
    ** Patients already enrolled in the trials will continue to
be dosed but no new subjects will be enrolled until the hold is
lifted - MTEM
    ** Stifel says this is likely a product-lot-specific issue
that shouldn't impact MTEM's other therapies, which are similar
    ** At least 2 brokerages cut their PT on stock; median PT is
$100
    ** Company also posts a smaller-than-expected loss in Q3
 urn:newsml:reuters.com:*:nGNX7MzPY1
    ** Stock down 37.5% YTD 

 (Reporting by Trisha Roy in Bengaluru)
 ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6182 3635;))