LVTX - Lava Therapeutics shelves hematology drug over competitive concerns

2023-06-14 11:15:32 ET

Lava Therapeutics ( LTRX ) said that it is discontinuing development of its hematology drug candidate LAVA-051 amid competitive concerns and will instead focus on its lead program, LAVA-1207 for the treatment of prostate cancer.

Lava said that increased competition in the hematology market was key a reason behind the decision. LAVA-051 was being tested for the treatment of several blood cancers.

LAVA-1207 is currently in Phase 1/2  trials for the treatment of metastatic castration-resistant prostate cancer.

The biotech company added that the decision should extend its cash runway further into 2026.

In a company update released on June 8 , Lava said that an ongoing Phase 1/2a clinical trial for LAVA-051 showed the compound appeared to have a favorable safety profile and potential signs of clinical activity in treating chronic lymphocytic leukemia and multiple myeloma.

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