Why Is Small-Cap Cancer Drug Developer Viracta Therapeutics Stock Trading Lower On Monday?
Portfolio Pulse from Vandana Singh
Viracta Therapeutics Inc (NASDAQ:VIRX) reported Stage 1 results of the Phase 2 NAVAL-1 trial for Epstein-Barr virus-positive peripheral T-cell lymphoma, showing nanatinostat in combination with valganciclovir (Nana-val) had greater efficacy than nanatinostat alone. Despite positive efficacy results, VIRX shares dropped 15.7% to $0.97.
April 15, 2024 | 4:16 pm
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Viracta Therapeutics reported positive Stage 1 results from its Phase 2 trial, but shares fell 15.7% to $0.97.
Despite reporting positive efficacy results for its Nana-val combination therapy in treating EBV+ PTCL, Viracta Therapeutics saw a significant drop in its stock price. This decline could be attributed to market reactions to the overall response and complete response rates, or possibly concerns over the safety profile and treatment-related adverse events reported. The market's reaction suggests that while the clinical results are promising, investors may have had higher expectations or there could be concerns about the commercial viability or regulatory path forward.
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