Why Kintara Therapeutics (KTRA) Shares Are Getting Obliterated
Portfolio Pulse from Henry Khederian
Kintara Therapeutics Inc (NASDAQ:KTRA) shares have dropped by 87% since Tuesday's open due to the company's decision to stop developing their drug VAL-083 for glioblastoma. The company is now focusing on REM-001, a localized tumor treatment, and exploring strategic options to enhance shareholder value. Preliminary results for VAL-083 were disappointing, but more data will be available in 2024. A study for REM-001 in cutaneous metastatic breast cancer is planned to start by the end of 2023, supported by a $2 million NIH grant.
November 01, 2023 | 7:11 pm
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Kintara Therapeutics' decision to stop developing VAL-083 has led to a significant drop in its share price. The company's focus on REM-001 and strategic options to enhance shareholder value may influence future stock performance.
The company's decision to halt the development of VAL-083 has led to a significant drop in its share price. This indicates a lack of confidence in the company's ability to deliver effective products, which negatively impacts investor sentiment. However, the company's shift in focus to REM-001 and strategic options to enhance shareholder value may provide some potential for recovery.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100