Cancer Player Kronos Bio To Stop Lanraplenib Combo Therapy Blood Cancer Study
Portfolio Pulse from Vandana Singh
Kronos Bio Inc (NASDAQ:KRON) has decided not to proceed to phase 2 of its trial for lanraplenib in combination with gilteritinib for AML after phase 1b data showed no complete responses. The company is open to further development with a partner. Kronos Bio also announced a new development candidate, KB-9558, and provided updates on KB-0742. The company has restructured to extend its cash runway into 2026. Piper Sandler and HC Wainwright have adjusted their price targets for KRON, with the stock down 14.50% at $1.25.
December 19, 2023 | 6:47 pm
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Kronos Bio discontinues phase 2 trial for lanraplenib due to lack of efficacy, announces new development candidate KB-9558, and updates on KB-0742. Restructuring extends cash runway, but analysts lower price targets.
The discontinuation of the lanraplenib trial due to insufficient efficacy is a significant negative development for Kronos Bio, likely leading to the observed drop in stock price. While the announcement of a new development candidate and updates on another molecule provide some positive news, the immediate impact of the trial's cessation and the reduction in analyst price targets suggest a negative short-term impact on the stock.
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