Harpoon Therapeutics is discontinuing work on its lead drug in prostate cancer following disappointing data in an early-stage clinical trial. Though Harpoon has other drugs in its pipeline, the decision is a setback to the company’s efforts to develop a new type of cancer immunotherapy.
The company plans to invest the money across several therapeutic areas and modalities, including oncology, immunology, gene and cell therapies.
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The company's Form S-1 filing comes less than two months after it completed a $70 million Series C financing.
The company is currently running a Phase I study in prostate cancer and plans to advance additional therapies into Phase I trials and IND-enabling studies next year.