What's Going On With TRACON Pharmaceuticals Shares Today
Portfolio Pulse from Vandana Singh
TRACON Pharmaceuticals shares are trading lower after the company released the results of a six-month IDMC review for the ongoing ENVASARC Phase 2 trial. The combination of envafolimab with Bristol‑Myers Squibb's Yervoy did not demonstrate synergy, leading to termination of enrollment in cohort D, reducing trial costs and accelerating the timeline to final data.
June 20, 2023 | 3:28 pm
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NEGATIVE IMPACT
Bristol‑Myers Squibb's Yervoy did not demonstrate synergy with TRACON Pharmaceuticals' envafolimab in the ENVASARC Phase 2 trial, leading to termination of enrollment in cohort D.
The lack of synergy between envafolimab and Yervoy in the ENVASARC Phase 2 trial is a negative development for Bristol‑Myers Squibb, as it may limit the potential market for Yervoy in combination with envafolimab. This news is likely to have a negative impact on BMY's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
TRACON Pharmaceuticals shares are trading lower after the company released the results of a six-month IDMC review for the ongoing ENVASARC Phase 2 trial, which showed no synergy with Bristol‑Myers Squibb's Yervoy.
The lack of synergy between envafolimab and Yervoy in the ENVASARC Phase 2 trial is a negative development for TRACON Pharmaceuticals, as it led to the termination of enrollment in cohort D. This news is likely to have a negative impact on TCON's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100