CALA - Calithera shares slump 33% after pulling plug on mid-stage telaglenastat lung cancer trial

Calithera Biosciences (NASDAQ:CALA) announces its decision to terminate the company's phase 2 KEAPSAKE trial based on a lack of clinical benefit observed in patients treated with telaglenastat in an interim analysis. Shares drop more than 33% premarket. The phase 2 study was designed to evaluate the safety and anti-tumor activity of telaglenastat plus standard-of-care chemoimmunotherapy as front-line therapy among certain patients with stage IV non-squamous non-small cell lung cancer (NSCLC). The company has no plans to continue the development of telaglenastat at this time, it said. Calithera estimates the cost savings resulting from the discontinuation of this trial will be $10-15M.

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Calithera shares slump 33% after pulling plug on mid-stage telaglenastat lung cancer trial