VBLT - VBL Therapeutics' late-stage trial for ovarian cancer treatment does not meet main goals

• VBL Therapeutics ( NASDAQ: VBLT ) on Tuesday said its phase 3 trial of its ovarian cancer treatment ofra-vec did not meet its main goals.
• The late-stage trial, called OVAL, did not meet the primary endpoints of achieving a statistically significant improvement in progression-free survival or overall survival.
• "Based on this outcome, we plan to discontinue the OVAL trial and will review the data from our ongoing Phase 2 trials in metastatic colorectal cancer and recurrent glioblastoma multiforme to determine next steps with the ofra-vec program," said VBLT CEO Dror Harats.
• The OVAL trial was evaluating a combination of VBLT's ofra-vec with chemotherapy drug paclitaxel vs. a combination of a placebo with paclitaxel in 409 patients with platinum-resistant ovarian cancer.
• VBLT anticipates that its current cash on hand will be sufficient to fund planned operations for at least the next 12 months.

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