CYAD - Celyad stock slumps 25% as blood cancer drug CYAD-211 gets axed in strategic review

Celyad Oncology ( NASDAQ: CYAD ) said it will discontinue the development of its multiple myeloma therapy CYAD-211 as part of a strategic and financial review.

The Belgium-based company said that, under its new business strategy, it has compiled a broad IP estate that controls key aspects of developing therapies in the allogeneic cell therapy space.

The patents around allogeneic CAR T-cell therapies and NKG2D-based therapies provide a way to develop intellectual property programs and to partner with outside parties for licensing these patents, the company added.

In addition to IP partnering transactions, Celyad aims to tackle the current limitations of CAR T-cell therapies. This strategy includes: Multiplexing approach of the short hairpin RNA (shRNA) platform, allowing multiple genes, including essential and functional genes, to be modulated simultaneously; Dual CAR development of a next-generation NKG2D-based CAR which may help to overcome resistance and immune escape; and develop B7-H6-targeting immunotherapies.

Celyad noted that it will discontinue CYAD-211, an allogeneic shRNA-based, anti-BCMA CAR T candidate for relapsed or refractory multiple myeloma (r/r MM).

The company said that there were were no safety concerns which lead to this decision and all patients previously treated with CYAD-211 will continue to receive their protocol-defined follow-up.

According to Celyad, 19 patients with r/r MM have been treated with CYAD-211 in the IMMUNICY-1 trial. Out of 17 evaluable patients, a partial response was achieved in five patients.

Enhanced lymphodepletion did not seem to improve clinical activity nor persistence of the cells post-infusion, the company added.

CYAD -29.12% to $0.74 premarket Dec. 21

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