Nordic Nanovector hits new record low after another blow to cancer drug trial

Thor Medical ASA

22/06/2022 10:04

** Shares in Oslo-listed Nordic Nanovector  NANOVN.OL 
tumble 57% after the biotechnology company said it would seek
regulatory feedback on its PARADIGME trial  urn:newsml:reuters.com:*:nFWN2Y80RY
    ** The decision follows comprehensive review and independent
data evaluation of PARADIGME, its ongoing Phase 2b trial of
Betalutin in R/R Follicular Lymphoma
    ** An independent expert panel reported that the efficacy
data are less promising than the data reported from Phase 2a
LYMRIT 37-01 trial, it said 
    ** Nordic Nanovector disclosed it would seek guidance on
PARADIGME from, among others, U.S. Food and Drug Administration
(FDA), adding it would provide additional updates in August
    ** Kempen said it would be surprised if there was a positive
regulatory feedback in the coming months and said it was also
not surprised that the efficacy data was less promising
    ** The review announced in early June was triggered by
slower-than-expected recruitment of patients for the cancer drug
trial that dragged shares 30% lower  urn:newsml:reuters.com:*:nL8N2XP1SY
    ** The stock, which hits fresh record low, is on track for
its worst day ever

 (Reporting by Marie Mannes)
 ((Marie.mannes@thomsonreuters.com))