Innate Pharma Shares Slide After Failure of Monalizumab in Head, Neck Cancer
01 August 2022 - 12:30PM
Dow Jones News
By Colin Kellaher
Shares of Innate Pharma SA tumbled sharply on Monday following
the failure of the clinical-stage biotech company's lead partnered
asset in a Phase 3 study in head and neck cancer.
The Marseille, France, company said the study evaluating
monalizumab in combination with cetuximab versus cetuximab alone in
patients with recurrent or metastatic squamous cell carcinoma of
the head and neck didn't meet a pre-defined threshold for efficacy,
and that partner AstraZeneca PLC was pulling the plug on the
trial.
Innate, which has licensed full oncology rights to monalizumab
to AstraZeneca under a 2015 development and commercialization
agreement, said it remains confident in the development program for
monalizumab in lung cancer.
Paris-listed shares of Innate were recently down 16% to EUR2.53,
while its U.S.-listed shares fell 17% in premarket trading to
$2.66.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 01, 2022 06:15 ET (10:15 GMT)
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