Starpharma tanks to over 14-year low after cancer drug trial halted

Starpharma Holdings

27/06/2023 05:28

** Shares of Starpharma Holdings Ltd  SPL.AX  fall as much
as 18.5% to A$0.265, their lowest level since April 2009
    ** Says a voluntary partial clinical hold implemented on a
trial in which SPL's technology is used
    ** Says trial to evaluate safety, tolerability,
pharmacokinetics, and efficacy of AstraZeneca's AZD0466 as
monotherapy in blood cancer patients was put on hold due to
"asymptomatic reported events"
    ** Starpharma says the asymptomatic events weren't assessed
as related to SPL's product, a drug delivery technology used to
enhance properties of other medicines
    ** Adds, hold does not impact its platform technology, or
any other partnership
    ** Marks its worst intraday loss since Dec. 2018; on track
to lose for a third straight day, if trend holds
    ** More than 850,000 shares change hands, vs the 30-day
average of 237,060
    ** SPL worst performer in the ASX All Ordinaries index
 .AORD 
    

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))