Galera Therapeutics shares are trading lower after the company said its GRECO-2 trial did not pass futility analysis and it will discontinue both GRECO trials. Additionally, the company said it is reviewing potential strategic alternatives.
Portfolio Pulse from Benzinga Newsdesk
Galera Therapeutics announced that its GRECO-2 trial did not pass futility analysis and it will discontinue both GRECO trials. The company is also reviewing potential strategic alternatives.
October 31, 2023 | 3:25 pm
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Galera Therapeutics' stock price may be negatively impacted due to the discontinuation of the GRECO trials and the uncertainty surrounding the company's strategic alternatives.
The discontinuation of the GRECO trials represents a significant setback for Galera Therapeutics, as it indicates that the trials did not meet their objectives. This could negatively impact investor confidence and lead to a decrease in the company's stock price. Additionally, the company's announcement that it is reviewing strategic alternatives introduces further uncertainty, which could also negatively impact the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100