Shares of G1 Therapeutics Plummeted 46% After Phase 3 Trilaciclib Combination Trial Update
Shares of G1 Therapeutics took a significant hit, as they plummeted 46% to $2.44 in after-hours trading on Monday, following the company’s update on its Phase 3 trilaciclib combination trial.
Disappointing Interim Analysis
The trial, which is evaluating trilaciclib in combination with gemcitabine and carboplatin for first-line treatment of metastatic triple-negative breast cancer, will continue to its final analysis as recommended by the independent Data Monitoring Committee. G1 Therapeutics remains blind to all data since the interim analysis did not meet the early stopping criteria.
The company expressed disappointment that a positive interim analysis did not occur, as it would have allowed them to bring this potentially groundbreaking therapy to patients sooner. However, they are optimistic about completing the study and making this innovative treatment option available to patients with this highly aggressive form of breast cancer as early as next year.
Data Monitoring Committee Finds No Safety Concerns
It is worth noting that the Data Monitoring Committee did not raise any safety concerns and did not recommend any changes to the study. The drug, also known as Cosela, was launched in 2021 and has gained approval from the Food and Drug Administration as a therapy to reduce chemotherapy-induced bone marrow suppression in adults undergoing certain types of chemotherapy treatment.
Market Response and Future Milestones
G1 Therapeutics’ stock decline reflects the market’s response to the update on their Phase 3 trilaciclib combination trial. The company’s focus now lies in completing the study and potentially providing a much-needed treatment option for patients battling metastatic triple-negative breast cancer. The next milestone to look out for is the final analysis, which is estimated to take place in the third quarter. Investors and patients alike eagerly await the outcome, hoping for positive results that could bring about a significant change in the fight against this aggressive form of breast cancer.
Analyst comment
Negative news. The market responded negatively to the update on G1 Therapeutics’ Phase 3 trilaciclib combination trial, causing a significant decline in the stock price. However, the company remains optimistic about completing the study and potentially offering the innovative treatment option to patients next year. The next milestone is the final analysis in the third quarter, which will be eagerly awaited by investors and patients.
