EFTR - eFFECTOR stock slides on decision to discontinue development of tomivosertib for lung cancer treatment
2024-04-04 09:34:00 ET
- eFFECTOR Therapeutics ( NASDAQ: EFTR ) shares fell about 77% after it said that it will stop developing tomivosertib to treat frontline non-small cell lung cancer after disappointing results from mid-stage trial.
- “While there was evidence of modest tomivosertib activity in the trial, based on the totality of the data currently available we do not see an obvious path forward to continue developing tomivosertib in frontline NSCLC,” said Steve Worland, CEO of eFFECTOR.
- Based on 36 events, the hazard ratio for progression free survival using a stratified Cox proportional hazards model was 0.62 in favor of tomivosertib.
- The two-sided p value for PFS, based on a stratified log rank test, was 0.21, which did not meet the pre-specified threshold of p?0.2.
- The median PFS was 13.0 weeks in the tomivosertib plus pembrolizumab arm and 11.7 weeks in the placebo plus pembrolizumab arm, respectively.
- Overall survival results remain immature, however no trend favoring tomivosertib was observed.
- There were 67% Grade 3 or higher treatment emergent adverse events in the tomivosertib plus pembrolizumab arm versus 37% in the placebo plus pembrolizumab arm.
- Source: Press Release