NuCana Stock Hit Hard by Phase II Clinical Trial Failure
NuCana shares plunged by half on Friday morning following the Phase II failure of a solid tumor treatment clinical trial. This marks the second time in two years that a significant asset for the biotech company has failed in clinical trials.
NuCana Phase II NuTide:323 Clinical Trial Falls Short
The mid-stage NuTide:323 trial was evaluating NUC-3373 in patients with second-line colorectal cancer. The drug was tested in combination with existing treatments: leucovorin, irinotecan, and bevacizumab. However, the combination failed to improve progression-free survival compared to the three medicines alone.
As a result, NuCana announced that it will discontinue the NuTide:323 trial based on the recommendation of a study steering committee. This decision was disclosed in a Thursday press release.
NuCana Stock Price Drops Significantly On Clinical Trial News
Following the announcement of the failed clinical trial, NuCana shares dropped nearly 50% in pre-market trading on Friday, falling to $3.90 from a previous close of $7.73 on Thursday.
The company had been developing NUC-3373 as a potentially safer and more effective alternative to the chemotherapy drug fluorouracil (5-FU). This chemotherapy is widely used to treat colorectal, breast, gastric, head and neck, and pancreatic cancers.
CEO Responds to Setback
NuCana’s CEO, Hugh Griffith, expressed disappointment over the unexpected outcome. “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,” Griffith stated.
Repeated Clinical Trial Failures Weigh on NuCana Shares
This latest setback is not the first for NuCana. In March 2022, another experimental drug, acelarin (NUC-1031), failed to improve overall survival in patients with biliary tract cancer. This news caused NuCana’s shares to drop by 57% at that time.
Despite these challenges, NuCana remains committed to advancing its pipeline. The company plans to continue studying NUC-3373 in the Phase III NuTide:303 trial. This study combines the therapy with Merck’s Keytruda for solid tumors and the chemotherapy docetaxel for lung cancer.
Ongoing Trials and Future Prospects
NuCana is also progressing with other trials. The company is developing NUC-7738 in combination with Keytruda in a Phase II trial for melanoma. Results from this study are expected to be presented at the European Society for Medical Oncology conference in September.
Despite recent setbacks, NuCana is focusing on the future. The company continues to explore its pipeline and evaluate new treatment combinations. These efforts are aimed at addressing unmet needs in oncology and advancing its position in the biotech sector.
NuCana faces significant challenges after the recent Phase II Clinical trial failure. With shares dropping by 50% and a history of clinical setbacks, the company’s road ahead appears challenging. However, ongoing trials and new strategies could offer a path forward. Investors will closely watch the upcoming data presentations and future trial outcomes to gauge NuCana’s prospects.
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