Oncternal Therapeutics shares are trading lower after the company announced it will discontinue its clinical trials for ONCT-535 and ONCT-808 due to a lack of meaningful results and high capital requirements.
Portfolio Pulse from Benzinga Newsdesk
Oncternal Therapeutics shares fell after the company announced the discontinuation of its clinical trials for ONCT-535 and ONCT-808 due to insufficient results and high costs.
September 12, 2024 | 2:55 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Oncternal Therapeutics' decision to discontinue trials for ONCT-535 and ONCT-808 has led to a decline in its stock price. The trials were halted due to lack of meaningful results and high capital requirements.
The discontinuation of clinical trials is a significant negative development for Oncternal Therapeutics, as it indicates a setback in their product pipeline and potential future revenue streams. This news is likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100