Why Is Cancer Focused Galera Therapeutics Stock Sinking Today?
Portfolio Pulse from Vandana Singh
Galera Therapeutics Inc (GRTX) stock is sinking after the FDA reiterated the need for an additional Phase 3 trial of avasopasem manganese for radiotherapy-induced severe oral mucositis. The company also decided to halt the Phase 2b GRECO-2 trial of rucosopasem manganese in patients with locally advanced pancreatic cancer and the Phase 1/2 GRECO-1 trial of rucosopasem in patients with non-small-cell-lung-cancer, following futility analysis of the GRECO-2 trial. The company's shares are down 51.90% at $0.10.
October 31, 2023 | 1:58 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Galera Therapeutics' stock is sinking due to regulatory challenges and halted trials, causing a significant drop in share price.
The FDA's requirement for an additional Phase 3 trial for Galera's avasopasem manganese and the company's decision to halt other trials have negatively impacted investor confidence, leading to a significant drop in the company's share price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100