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Biotech Players Performs Poorly Stalling Further Trial

Rafael Holdings, a couple months back turned into a public company after hopping onto Nasdaq during a strategic merger. However, Rafael is now realising the few drawbacks and pitfalls of becoming a public participant.

Rafael Holdings, Biotech firm is focused on cancer therapeutics. The lead program of the company failed during the Phase 3 trial showcasing incapability in meeting the primary endpoint in metastatic pancreatic cancer. As Rafael announced this on Thursday, the company shared that the results showed nearly no difference in survival between the control arms versus the treatment.

The study results were unnervingly disturbing rendering the independent monitoring board with a mutual decision. The board suggested to temporarily halt an independent Phase 3 study. Observing the futility of the study, board thought it best to stall the study in relapsed acute myeloid leukemia. At the news of a dramatic failure, company investors skedaddled at once resulting in a massive drop in Rafael Holding’s shares by approximately 80%.

Rafael Holdings has been focused on determining whether or not the lead candidate devimistat is a potent. The company has been committed to assess if it can be applied as first-line treatment combined with chemotherapy for Stage 4 pancreatic cancer. For this purpose, Rafael randomized a total of 528 patients systematically between the active and chemo control arms. The cohort of patients were selected only if no prior therapies for metastatic disease had been received. Devimistat’s future stands in the blur with premature halt of AML study.

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