Reported Earlier, Kintara Therapeutics Announces Preliminary Topline Results From GBM AGILE Study
Portfolio Pulse from Benzinga Newsdesk
Kintara Therapeutics (NASDAQ:KTRA) announced that its GBM AGILE study showed that VAL-083 did not perform better than the current standards of care in glioblastoma. As a result, the company is suspending the development of VAL-083 and shifting its focus to its REM-001 program and other strategic opportunities. The company also plans to conduct a review of potential strategic opportunities to maximize shareholder value. Kintara expects to enroll the first subject in a 15-patient CMBC study around the end of 2023, which is expected to be covered by a $2 million grant from the NIH.
October 31, 2023 | 1:18 pm
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NEGATIVE IMPACT
Kintara Therapeutics' decision to suspend the development of VAL-083 could negatively impact the company's stock in the short term. However, the shift in focus to the REM-001 program and other strategic opportunities could potentially offset this impact.
The suspension of VAL-083 development is a setback for Kintara Therapeutics, which could negatively impact investor sentiment and the company's stock price. However, the company's shift in focus to the REM-001 program and other strategic opportunities could potentially provide new avenues for growth, which could offset the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100