Kintara Therapeutics Suspends Development Of VAL-083 In Glioblastoma; Stock Drops

(RTTNews) - Kintara Therapeutics Inc. (KTRA) said that it has suspended development of VAL-083 in glioblastoma, and is shifting focus to REM-001 program as well as other strategic opportunities.

The move came after preliminary results from the Glioblastoma Adaptive Global Innovative Learning Environment or GBM AGILE study showed that VAL-083 did not perform better than the current standards of care in glioblastoma. The results included preliminary safety data for VAL-083 that was similar to that of the current standards of care used to treat glioblastoma.

The company said it awaits the full dataset from the GBM AGILE Study which is expected at the end of the first quarter/beginning of second quarter of calendar year 2024. At such time Kintara will analyze the full results as it seeks to maximize the value of the VAL-083 asset.

The company looks forward to enrolling first patient in 15-patient study of REM-001 in cutaneous metastatic breast cancer (CMBC) around the end of calendar year 2023.

The company was recently awarded a $2 million grant from the National Institutes of Health (NIH) which is expected to cover the majority of the cost to run the CMBC study. In November 2022, the United States Food and Drug Administration (FDA) granted Fast Track Designation (FTD) to Kintara's REM-001 Therapy for the treatment of patients with CMBC.

In Tuesday pre-market, KTRA was trading at $1.19 down $2.64 or 68.92%.

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