Cyteir Therapeutics Announces Discontinuation Of CYT-0851 Development Program And Planned Liquidation And Dissolution
Portfolio Pulse from Happy Mohamed
Cyteir Therapeutics (NASDAQ:CYT) has announced the discontinuation of its CYT-0851 development program and plans to dissolve the company and liquidate its assets. The decision was made after the clinical efficacy data for CYT-0851, a drug being evaluated for advanced ovarian cancer and other solid tumors, did not meet the company's criteria for further development. The company will continue to treat patients currently enrolled in the Phase 1 combination study prior to dissolution.
June 30, 2023 | 12:08 pm
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Cyteir Therapeutics is discontinuing its CYT-0851 development program and plans to dissolve the company, which will likely negatively impact its stock price.
The discontinuation of a major development program and the dissolution of the company are significant negative events that will likely lead to a decrease in the company's stock price. Investors may sell their shares due to the uncertainty and lack of future prospects.
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