ALRN - Aileron slips 12% after announcing changes to breast cancer trial design

Nano-cap biotech Aileron Therapeutics ( NASDAQ: ALRN ) dropped nearly 12% on Monday after the company announced protocol modifications to its Phase 1b chemoprotection trial for ALRN-6924 in p53-mutated breast cancer.

Grounded on recent ALRN-6924 data, the modifications were designed to raise the likelihood of the treatment in indicating the protection from chemotherapy-induced severe neutropenia, alopecia (hair loss), and potentially other toxicities, the company said.

“Our team has worked methodically and expeditiously to modify the Phase 1b breast cancer trial in order to enhance our opportunity to demonstrate a robust chemoprotective effect of ALRN-6924 in patients with p53-mutated breast cancer,” Chief Executive Manuel Aivado remarked.

Data from initial patients are expected in 4Q 2022, and interim data from the first 12 patients and 20 patients are anticipated in 2Q and 3Q in 2023, respectively.

In conjunction with the clinical update, Aileron ( ALRN ) announced its cash runway now extends to 1Q 2024, allowing the company to generate topline data from the breast cancer trial next year and potentially start a pivotal trial subject to positive results.

Reporting $38.1M in cash, cash equivalents, and investments for March-end, Aileron ( ALRN ) disclosed last May that its cash runway extended to 4Q 2023.

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