
Tocagen Phase III study in brain cancer fails, sending shares plummeting
The company said Thursday morning that its study failed to meet its primary endpoint in high-grade gliomas. Shares of the company fell more than 80 percent on the Nasdaq.
The company said Thursday morning that its study failed to meet its primary endpoint in high-grade gliomas. Shares of the company fell more than 80 percent on the Nasdaq.
In an interview at the ASCO meeting, BeiGene chief adviser Eric Hedrick said the company is well-prepared for when it likely regains global rights to tislelizumab.
The drug was being tested in combination with radiation therapy among newly diagnosed patients with glioblastoma, a notoriously difficult-to-treat and invariably fatal disease.
In a call to following news of the deal, executives pointed to near-term launch opportunities and pipelines, but some analysts expressed concern about the loss of patent protection for Revlimid and Opdivo.
The acquisition brings together two of the largest drugmakers in the country, both of which are major players in biopharma, particularly oncology.
The company plans to use the funding to support its various microbiome-based drug development programs in oncology, food allergy and bacterial infection.