Oncternal Therapeutics slumps on pausing studies of some cancer therapies

Oncternal Therapeutics

03/04/2023 22:21

** Shares of oncology therapy developer Oncternal
Therapeutics Inc  ONCT.O  fall ~40% to 46 cents after the bell
    ** Co says late-stage study and early-stage study of its
therapy zilovertamab in combination with ibrutinib will be
closed based on dynamically changing therapeutic landscape
    ** This will result in extending cash runway into 2025 - co
    ** Cash runway will support the clinical advancement of
cancer therapy ONCT-808 and prostate cancer therapy ONCT-534
    ** Co estimates cash, cash equivalents and short-term
investments of $54.3 million
    ** Stock down ~21% YTD

 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com;))