Theseus Pharmaceuticals falls on ending study on stomach cancer drug

Theseus Pharmaceuticals

14/07/2023 14:50

**Shares of Theseus Pharmaceuticals  THRX.O  down 68.4% at
$3.05
    ** Co says it is discontinuing enrollment in ongoing
early-to-mid stage study and terminating development of its
experimental drug to treat stomach cancer
    ** Decision follows two dose-limiting toxicities related to
hand-foot skin reaction, co says
    ** Co to prioritize development of THE-349, a drug to treat
type of lung cancer; plans to submit application to initiate
study in Q4 2023
    ** Brokerages Jefferies and Needham cut rating on stock to
"hold" from "buy"
    ** Five brokerages cut PT on THRX
    ** As of last close, stock up 91.16% this year

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))