By Rob CurranShares of oncology drug developer Kintara Therapeutics plunged after it suspended development of a brain-cancer treatment candidate, shifted resources to a breast-cancer product trial and commenced a strategic review. Shares of Kintara plummeted 72% to $1.04 premarket trading. The San Diego development-stage biopharmaceutical company said its VAL-083 product failed to perform better than the current standards of care in glioblastoma in an early-stage study. Following these findings, Kintara suspended the development of VAL-083, and now plans to focus on development of its REM-001 metastatic breast-cancer treatment. Kintara anticipates enrolling the first patient for a 15-patient study of the REM-001 product for treatment of cutaneous metastatic breast cancer by the end of the year.

Source: Wall Street Journal October 31, 2023 16:01 UTC