Aadi Bioscience slumps as cancer therapy misses expectations in study

Whitehawk Therapeutics

15/12/2023 11:14

** Aadi Bioscience's  AADI.O  shares fall 45.3% to $2.94
premarket
    ** Company said late on Thursday its experimental cancer
therapy in a mid-stage study showed a 26% overall response rate,
the proportion of patients whose cancers disappeared or shrinks
    ** Analysts say the data misses expectations; TD Cowen says
investors were expecting a 30% threshold for overall response
    ** Company says interim results in first 40 patients showed
sustained tumor reductions in heavily pre-treated population
    ** As of Thursday's close, stock down 58.1% YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com))