Molecular Templates up as FDA removes partial clinical hold on cancer drug trial

Molecular Templates

01/06/2023 13:25

** Shares of drug developer Molecular Templates Inc  MTEM.O 
rise as much as 31% premarket before paring some gains; last up
8.5% at 51 cents
    ** MTEM says the U.S. FDA removed its partial clinical hold
on patient enrollment in co's early-stage trial of its cancer
therapy, MT-0169 
    ** The U.S health regulator had placed the study on hold in
April based on cardiac adverse events- co
    ** Co says FDA decision followed the agency's review of
safety data on the drug, which is being developed to treat
multiple myeloma, a cancer which begins in white blood cells
    ** MTEM gained 19.6% in May, marking their second straight
month in the green
    ** Stock is up 43% so far in 2023 after its worst ever
annual percentage decline in 2022

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))