GTx shares fall 65% on Phase III enobosarm data
This article was originally published in Scrip
GTx saw its market cap reduced from $262.2 million to $90.3 million on 19 August after the Memphis, Tennessee-based company reported that enobosarm for the treatment of muscle wasting in non-small cell lung cancer (NSCLC) patients did not meet the overall criteria for the co-primary responder endpoints in the drug's two Phase III clinical trials.
You may also be interested in...
Private Company Edition: TVM, Focus/MD Anderson and RA Capital launched new venture capital funds. Also, LianBio’s $310m crossover financing, AavantiBio’s Sarepta-backed $107m series A and Sirnaomics’ $105m series D led recent VC rounds.
Amgen had a good third quarter despite some COVID-19 impacts but did not shed any light on filing plans for two key late-stage programs nor provide any insight into Phase III asthma results for tezepelumab.
Merck’s third quarter beat analyst consensus and the company raised its guidance. The COVID-19-battered vaccines business began to improve but Gardasil’s recovery was slower than expected.