Aileron hits record low after ending chemoprotection drug trial

Rein Therapeutics

21/02/2023 16:57

(Updates)
    ** Drug developer Aileron Therapeutics Inc's shares  ALRN.O 
slide 44.6%, hitting record low at $1.30
    ** Co terminates early-stage breast cancer trial and further
development of its drug candidate, ALRN-6924, in prevention of
certain side effects of chemotherapy
    ** Says patients in its chemoprotection trial experienced
severe hair loss and abnormal low levels of white blood cells
called neutrophils that can increase the risk of infections 
    ** Co announces plans to reduce its remaining workforce to 3
from 9 full-time employees in the coming weeks; explores
strategic alternatives, including possible M&A and business
combination options
    ** ALRN stock fell 79% in 2022 
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))