ATNX - Athenex phase 1 neuroblastoma candidate trial hit by patient death; down 28%

2023-03-20 16:06:21 ET

• KUR-501, an autologous CAR-NKT gene therapy in phase 1 from Athenex ( NASDAQ: ATNX ), has been placed in a clinical hold following an investigation into a patient death.
• The company is also planning to conduct a safety risk mitigation.
• The stock closed Monday down ~28% .
• Athenex said the patient was heavily pretreated and died about three weeks after product administration.
• The company is eying reopening the trial mid year. However, it conceded that there are "no assurances that the clinical hold will be lifted or when it will be lifted."
• CEO Johnson Lau also said Athenex ( ATNX ) will pursue "a broader range of strategic alternatives."
• Seeking Alpha's Quant Rating views Athenex ( ATNX ) as a strong sell.

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