G1 Therapeutics to discontinue cancer drug trial, shares plunge 40%

[February 13, 2023]  (Reuters) - G1 Therapeutics Inc said on Monday it would terminate its cancer therapy study as the placebo outperformed the drug in its late-stage trial, sending its shares plunging 40% before the opening bell.

Although the drug, trilaciclib, achieved its goal in the trial, the early anti-tumor efficacy data, including overall response rate and preliminary measures of survival, favored the placebo arm, the cancer therapy developer said.

The study was designed to evaluate the efficacy and safety of the drug administered in addition to triplet therapy with the first-line therapy in patients with a type of colorectal cancer.

(Reporting by Sriparna Roy in Bengaluru; Editing by Dhanya Ann Thoppil and Maju Samuel)

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