Theseus Pharmaceuticals shares are trading lower after the company announced discontinuing enrollment in Phase 1/2 study and terminating development of THE-630 for gastrointestinal stromal tumors following two dose-limiting toxicities.
Portfolio Pulse from Benzinga Newsdesk
Theseus Pharmaceuticals has announced the discontinuation of enrollment in its Phase 1/2 study and the termination of development of THE-630 for gastrointestinal stromal tumors due to two dose-limiting toxicities. This has led to a decrease in the company's share price.
July 14, 2023 | 8:47 am
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NEGATIVE IMPACT
Theseus Pharmaceuticals' decision to discontinue its Phase 1/2 study and terminate development of THE-630 has negatively impacted its stock price.
The discontinuation of a clinical trial and termination of a drug development often leads to a decrease in a biotech company's stock price as it indicates a setback in the company's product pipeline. This is the case for Theseus Pharmaceuticals with its decision to stop the development of THE-630.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100