NuCana’s chemotherapy replacement has failed to improve progression-free survival in a Phase II test, sending the biotech’s shares down by 50%.
NuCana’s shares halved Friday morning after the Phase II failure of a solid tumor medicine—the second time in two years the biotech has seen a key asset fail in the clinic.
The mid-stage NuTide:323 trial was testing NUC-3373 in patients with second-line colorectal cancer in combination with existing treatments leucovorin, irinotecan and bevacizumab. The combo failed to improve progression-free survival compared to the three medicines alone. Following the recommendation of a study steering committee, NuCana will discontinue the NuTide:323 trial, the company said in a Thursday press release.
NuCana’s shares plummeted nearly 50% in pre-market trading Friday morning to $3.90, compared to $7.73 at close Thursday. The company had been developing NUC-3373 in hopes of providing a safer and more effective alternative to the chemotherapy drug fluorouracil (5-FU), which is commonly used for colorectal, breast, gastric, head and neck and pancreati cancers.
“While we are disappointed with this unexpected outcome, especially for people living with colorectal cancer, we gained valuable knowledge from the NuTide:323 study which will inform our ongoing development programs,” said NuCana CEO Hugh Griffith in a statement.
This is the second time in as many years that NuCana’s shares have tumbled on lackluster clinical data. In March 2022, acelarin (NUC-1031) failed to improve overall survival in patients with biliary tract cancer. The news sent NuCana’s shares down 57% at the time.
NuCana said it will continue to study NUC-3373 in the Phase III NuTide:303 study, which combines the therapy with Merck’s Keytruda for solid tumors and the chemotherapy docetaxel for lung cancer.
NuCana is also developing NUC-7738 in combination with Keytruda in a Phase II trial for melanoma. Results are expected to be presented at the European Society for Medical Oncology conference in September.
