Rafael Holdings plummets as cancer drug fails late-stage studies

Rafael Holdings

28/10/2021 13:19

** Rafael Holdings Inc's shares  RFL.N  plunge 75% to $7.53
in premarket trading
    ** Co says its unit's experimental drug, devimistat, did not
meet main goal of improving overall survival in late-stage trial
of 528 patients with pancreatic cancer  urn:newsml:reuters.com:*:nGNX7480Y9
    ** Safety board recommended a separate late-stage study
testing devimistat in patients with relapsed or refractory acute
myeloid leukemia be stopped due to lack of efficacy 
    ** Up to Wednesday's close, stock had risen 29.4% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com;))